Academics Appreciate Awards. A New Aspect of Incentives in Research
This paper analyzes awards as a means of motivation prevalent in the scientific community, but so far neglected in the economic literature on incentives, and discusses their relationship to monetary compensation. Awards are better suited than performance pay to reward scientific tasks, which are typically of a vague nature. They derive their value, for instance, from signaling research talent to outsiders. Awards should therefore be taken seriously as a means of motivating research that may complement, or even substitute for, monetary incentives. While we discuss awards in the context of academia, our conclusions apply to other principal-agent settings as well.
|Date of creation:||Nov 2008|
|Date of revision:|
|Contact details of provider:|| Postal: Gellerstrasse 24, 4052 Basel|
Web page: http://www.crema-research.ch
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Bruno S. Frey & Alois Stutzer, .
"What can Economists Learn from Happiness Research?,"
IEW - Working Papers
080, Institute for Empirical Research in Economics - University of Zurich.
- Bruno S. Frey & Alois Stutzer, 2002. "What Can Economists Learn from Happiness Research?," Journal of Economic Literature, American Economic Association, vol. 40(2), pages 402-435, June.
- Bruno S. Frey & Alois Stutzer, 2001. "What Can Economists Learn from Happiness Research?," CESifo Working Paper Series 503, CESifo Group Munich.
- Auriol, Emmanuelle & Renault, Régis, 2007.
"Status and Incentives,"
IDEI Working Papers
451, Institut d'Économie Industrielle (IDEI), Toulouse.
- Renault, Régis & Auriol, Emmanuelle, 2008. "Status and incentives," Economics Papers from University Paris Dauphine 123456789/12479, Paris Dauphine University.
- Emmanuelle Auriol & Régis Renault, 2007. "Status and Incentives," THEMA Working Papers 2007-01, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
- Bruno S. Frey, 2005.
"Knight Fever: Towards an Economics of Awards,"
CREMA Working Paper Series
2005-12, Center for Research in Economics, Management and the Arts (CREMA).
- C. Gavrila & J.P. Caulkins & G. Feichtinger & G. Tragler & R.F. Hartl, 2005. "Managing the reputation of an award to motivate performance," Mathematical Methods of Operations Research, Springer, vol. 61(1), pages 1-22, 03.
- Alois Stutzer & Bruno S. Frey, 2006.
"What Happiness Research Can Tell Us About Self-Control Problems And Utility Misprediction,"
IEW - Working Papers
267, Institute for Empirical Research in Economics - University of Zurich.
- Stutzer, Alois & Frey, Bruno S., 2006. "What Happiness Research Can Tell Us About Self-Control Problems and Utility Misprediction," IZA Discussion Papers 1952, Institute for the Study of Labor (IZA).
- Waldfogel, Joel, 1993. "The Deadweight Loss of Christmas," American Economic Review, American Economic Association, vol. 83(5), pages 1328-36, December.
- Aldo Rustichini & Uri Gneezy, 2000.
"A fine is a price,"
Natural Field Experiments
00258, The Field Experiments Website.
- Robert Dur, 2008. "Gift Exchange in the Workplace," Tinbergen Institute Discussion Papers 08-082/1, Tinbergen Institute.
- Susanne Neckermann & Bruno S. Frey, 2008.
"Awards as Incentives,"
CREMA Working Paper Series
2008-31, Center for Research in Economics, Management and the Arts (CREMA).
- repec:spr:compst:v:61:y:2005:i:1:p:1-22 is not listed on IDEAS
- Susanne Neckermann & Reto Cueni & Bruno S. Frey, 2009. "What is an Award Worth? An Econometric Assessment of the Impact of Awards on Employee Performance," CESifo Working Paper Series 2657, CESifo Group Munich.
- Timothy Besley & Maitreesh Ghatak, 2008.
American Economic Review,
American Economic Association, vol. 98(2), pages 206-11, May.
- Canice Prendergast, 1999. "The Provision of Incentives in Firms," Journal of Economic Literature, American Economic Association, vol. 37(1), pages 7-63, March.
- Bruno S. Frey & Reto Jegen, 2000. "Motivation Crowding Theory: A Survey of Empirical Evidence," CESifo Working Paper Series 245, CESifo Group Munich.
- Roland Bénabou & Jean Tirole, 2003. "Intrinsic and Extrinsic Motivation," Review of Economic Studies, Oxford University Press, vol. 70(3), pages 489-520.
When requesting a correction, please mention this item's handle: RePEc:cra:wpaper:2008-32. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Anna-Lea Werlen)
If references are entirely missing, you can add them using this form.