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Awards - A View From Psychological Economics

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  • Bruno S. Frey
  • Susanne Neckermann

Abstract

Awards in the form of orders, decorations, prizes, and titles are ubiquitous in monarchies and republics, private organizations, not-for-profit, and profit-oriented firms. This paper argues that awards present a unique combination of different stimuli and that they are distinct and unlike other monetary and non-monetary rewards. Despite their relevance in all areas of life awards have not received much scientific attention. We propose to study awards and present results on a vignette experiment that quantifies and isolates the effects of different award characteristics such as the publicity associated with winning an award. Further, employing a unique data set, we demonstrate that there are substantial differences in the intensity of usage of awards across countries.

Suggested Citation

  • Bruno S. Frey & Susanne Neckermann, 2008. "Awards - A View From Psychological Economics," CREMA Working Paper Series 2008-15, Center for Research in Economics, Management and the Arts (CREMA).
  • Handle: RePEc:cra:wpaper:2008-15
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    References listed on IDEAS

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    Cited by:

    1. Josse Delfgaauw & Robert Dur & Joeri Sol & Willem Verbeke, 2013. "Tournament Incentives in the Field: Gender Differences in the Workplace," Journal of Labor Economics, University of Chicago Press, vol. 31(2), pages 305-326.
    2. Neckermann, Susanne & Frey, Bruno S., 2013. "And the winner is…? The motivating power of employee awards," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 46(C), pages 66-77.
    3. Pitsoulis, Athanassios & Schnellenbach, Jan, 2012. "On property rights and incentives in academic publishing," Research Policy, Elsevier, vol. 41(8), pages 1440-1447.
    4. Ashraf, Nava & Bandiera, Oriana & Jack, Kelsey, 2012. "No margin, no mission? A Field Experiment on Incentives for Pro-Social Tasks," CEPR Discussion Papers 8834, C.E.P.R. Discussion Papers.
    5. Thomas Ehrmann & Brinja Meiseberg & Christian Ritz, 2009. "Superstar Effects in Deluxe Gastronomy – An Empirical Analysis of Value Creation in German Quality Restaurants," Kyklos, Wiley Blackwell, vol. 62(4), pages 526-541, November.
    6. Timothy Gubler & Ian Larkin & Lamar Pierce, 2016. "Motivational Spillovers from Awards: Crowding Out in a Multitasking Environment," Organization Science, INFORMS, vol. 27(2), pages 286-303, April.
    7. Josse Delfgaauw & Robert Dur & Arjan Non & Willem Verbeke, 2015. "The Effects of Prize Spread and Noise in Elimination Tournaments: A Natural Field Experiment," Journal of Labor Economics, University of Chicago Press, vol. 33(3), pages 521-569.
    8. Beate Gebhardt & Ines Kefer, 2019. "Ansätze und Herausforderungen der Implementierung von ESG-Kriterien in Wettbewerben und der unternehmerischen Nachhaltigkeitsbewertung," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 88(3), pages 81-96.
    9. Bruno S. Frey & Susanne Neckermann, 2013. "Awards play an important role," Chapters, in: Francisco Cabrillo & Miguel A. Puchades-Navarro (ed.), Constitutional Economics and Public Institutions, chapter 17, pages 313-321, Edward Elgar Publishing.
    10. Sebastian Kube & Michel Andre Marechal & Clemens Puppe, 2012. "The Currency of Reciprocity: Gift Exchange in the Workplace," American Economic Review, American Economic Association, vol. 102(4), pages 1644-1662, June.
    11. Louis Jaeck & Gilbert Bougi, 2010. "Dynamics of Environmental Regulation and Voters’ Biased Beliefs: A Political Economy Approach," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 38(4), pages 399-409, December.
    12. Greiff, Matthias & Paetzel, Fabian, 2016. "Second-order beliefs in reputation systems with endogenous evaluations – an experimental study," Games and Economic Behavior, Elsevier, vol. 97(C), pages 32-43.
    13. Schnellenbach, Jan & Schubert, Christian, 2014. "Behavioral public choice: A survey," Freiburg Discussion Papers on Constitutional Economics 14/03, Walter Eucken Institut e.V..
    14. Ashraf, Nava & Bandiera, Oriana & Jack, B. Kelsey, 2014. "No margin, no mission? A field experiment on incentives for public service delivery," Journal of Public Economics, Elsevier, vol. 120(C), pages 1-17.
    15. Margaret Phillips & Lynn Jones, 2018. "Where Are They Now? Winners of a Library Prize for Undergraduate Research: A Survey at the University of California, Berkeley," SAGE Open, , vol. 8(2), pages 21582440187, May.
    16. Schnellenbach, Jan & Schubert, Christian, 2015. "Behavioral political economy: A survey," European Journal of Political Economy, Elsevier, vol. 40(PB), pages 395-417.
    17. Brinja Meiseberg, 2014. "Trust the artist versus trust the tale: performance implications of talent and self-marketing in folk music," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 38(1), pages 9-42, February.
    18. Margit Osterloh & Bruno S. Frey, 2009. "Research Governance in Academia: Are there Alternatives to Academic Rankings?," CESifo Working Paper Series 2797, CESifo.
    19. Bruno S. Frey, 2010. "Geld oder Anerkennung? Zur Ökonomik der Auszeichnungen," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 11(1), pages 1-15, February.
    20. Margit Osterloh & Bruno S. Frey, 2009. "Research Governance in Academia: Are there Alternatives to Academic Rankings?," CREMA Working Paper Series 2009-17, Center for Research in Economics, Management and the Arts (CREMA).
    21. Margit Osterloh & Bruno S. Frey, 2010. "Academic Rankings and Research Governance," CREMA Working Paper Series 2010-04, Center for Research in Economics, Management and the Arts (CREMA).
    22. Bruno S. Frey & Susanne Neckermann, 2010. "Awards as Signals," CESifo Working Paper Series 3229, CESifo.
    23. Bruno S. Frey & Susanne Neckermann, 2013. "Prizes and awards," Chapters, in: Luigino Bruni & Stefano Zamagni (ed.), Handbook on the Economics of Reciprocity and Social Enterprise, chapter 27, pages 271-276, Edward Elgar Publishing.
    24. Juntao Zheng & Niancai Liu, 2015. "Mapping of important international academic awards," Scientometrics, Springer;Akadémiai Kiadó, vol. 104(3), pages 763-791, September.

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    More about this item

    Keywords

    Awards; compensation; incentives; principal-agent; honors and distinctions;
    All these keywords.

    JEL classification:

    • C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
    • J33 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Compensation Packages; Payment Methods
    • M52 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Compensation and Compensation Methods and Their Effects

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