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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/26576
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| Title: | | Academics appreciate awards: a new aspect of incentives in research  |
| Authors: | | Frey, Bruno S. Neckermann, Susanne |
| Issue Date: | | 2009 |
| Series/Report no.: | | CESifo working paper 2531 |
| Abstract: | | 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. |
| Subjects: | | Awards money incentives academia research |
| JEL: | | C93 J33 M52 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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