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Researcher | Institution | Original publication | Reading recommendations | Beyond | CitationMonetary incentives, even though apparently efficient in driving performance of workers, have drawbacks, explains BRUNO S. FREY. They can result in a reorientation of workers from their focus on quality towards merely meeting objectives. The experiment presented in this video studies the impact of replacing monetary incentives with symbolic awards. The positive effect on the performance of workers highlights the potential of a well calibrated award environment. The individual’s needs for recognition and acknowledgement of efforts show to be key elements in boosting intrinsic motivation.
DOI:
https://doi.org/10.21036/LTPUB10177
Institution
University of Basel (Universität Basel)
The University of Basel has an international reputation of outstanding achievements in research and teaching. Founded in 1460, the University of Basel is the oldest university in Switzerland and has a history of success going back over 550 years. As a comprehensive university offering a wide range of high-quality educational opportunities, the University of Basel attracts students from Switzerland and the entire world, offering them outstanding studying conditions as they work towards their bachelor’s, master’s or PhD degrees. Today, the University of Basel has around 13,000 students from over a hundred nations, including 2,700 PhD students. The University of Basel has seven faculties covering a wide spectrum of academic disciplines. At the same time, the university has positioned itself amidst the international competition in the form of five strategic focal areas: Life Sciences, Visual Studies, Nanosciences, Sustainability and Energy Research and European and Global Studies. (Source: University of Basel)
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Original publication
Awards as Compensation
European Management Review
Published in 2007
Awards at Work
ZEW Discussion Paper
Published in 2012
Reading recommendations
Academic Honors and Performance
Labour Economics
Published in 2014
What Price Fame?
Published in 2000Giving and Receiving Awards
Perspectives on Psychological Science
Published in 2006
Towards an Economics of Awards
Journal of Economic Surveys
Published in 2016
Superstar CEOs
Quarterly Journal of Economics
Published in 2009
Beyond
A Ground-breaking Scientific Revolution
An Alarming Challenge for Society
If I Had a Second Life
A Personal Reading Recommendation