Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/171046
Authors: 
Frey, Bruno S.
Year of Publication: 
2017
Series/Report no.: 
CESifo Working Paper 6582
Abstract: 
The digital revolution has led to a quantification of ever more areas of human life and society. At the same time, there is an explosion of the number of awards, which by their very nature are based on non-quantified performance. Will quantification take over completely, leading to "omnimetrics"? The paper argues that this will not be the case. An economic explanation for the paradoxical existence of two totally different developments is offered: The value of awards is the higher, the stronger is the effort to quantify. The two developments depend on each other. The more digitalized the world is, the more non-quantified and non-quantifiable aspects of life are cherished. The quantification mania not only raises the value of awards but also the importance of personal relationships, of friendship, love and admiration. While digitalization will proceed and will determine increasingly larger parts of our lives, it is hypothesized that the non-quantified aspects of life will not disappear but flourish.
Subjects: 
awards
digital world
quantification
rankings
ratings
intrinsic motivation
JEL: 
A13
C80
D46
D80
Z10
Document Type: 
Working Paper

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