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Financial Incentives and Cognitive Abilities: Evidence from a Forecasting Task with Varying Cognitive Load

  • Ondrej Rydval

    (Max Planck Institute of Economics, Jena, Germany.)

I examine how financial incentives interact with intrinsic motivation and especially cognitive abilities in explaining heterogeneity in performance. Using a forecasting task with varying cognitive load, I show that the effectiveness of high-powered financial incentives as a stimulator of economic performance can be moderated by cognitive abilities in a causal fashion. Identifying the causality of cognitive abilities is a prerequisite for studying their interaction with financial and intrinsic incentives in a unifying framework, with implications for the design of efficient incentive schemes.

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Paper provided by Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics in its series Jena Economic Research Papers with number 2007-040.

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Date of creation: 18 Jul 2007
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Handle: RePEc:jrp:jrpwrp:2007-040
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