Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/214409 
Year of Publication: 
2008
Series/Report no.: 
CREMA Working Paper No. 2008-15
Publisher: 
Center for Research in Economics, Management and the Arts (CREMA), Basel
Abstract: 
Awards in the form of orders, decorations, prizes, and titles are ubiquitous in monarchies and republics, private organizations, not-for-profit, and profit-oriented firms. This paper argues that awards present a unique combination of different stimuli and that they are distinct and unlike other monetary and non-monetary rewards. Despite their relevance in all areas of life awards have not received much scientific attention. We propose to study awards and present results on a vignette experiment that quantifies and isolates the effects of different award characteristics such as the publicity associated with winning an award. Further, employing a unique data set, we demonstrate that there are substantial differences in the intensity of usage of awards across countries.
Subjects: 
Awards
compensation
incentives
principal-agent
honors and distinctions
JEL: 
C93
J33
M52
Document Type: 
Working Paper

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