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Awards At Work

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  • Susanne Neckermann
  • Reto Cueni
  • Bruno S. Frey

Abstract

Behavioral economics documents the importance of status and self-image concerns in the workplace, but is largely silent about how to instrumentalize them to induce effort. Awards|widespread in the corporate sector and elsewhere are motivators that derive their value from such social concerns. Panel data from the call center of a large international bank allow us to estimate the impact of receiving an award on e ort. The performance of winners proves to be signi cantly higher than that of comparable nonrecipients after the award has been presented. This increase in work e ort is sizeable, robust, and not driven by reverse causation.

Suggested Citation

  • Susanne Neckermann & Reto Cueni & Bruno S. Frey, 2009. "Awards At Work," CREMA Working Paper Series 2009-09, Center for Research in Economics, Management and the Arts (CREMA).
    • Handle: RePEc:cra:wpaper:2009-09
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    More about this item

    Keywords

    Awards; Motivation; Non-monetary Compensation; Event-Study; Incentives;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • 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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