Honours versus Money "The Economics of Awards"

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Frey, Bruno S., Gallus, Jana

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ISBN:9780198798507
Editorial: Oxford University Press
Fecha de la edición:2017
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Nº Pág.:160
Idiomas:Ingles

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/ Análisis Económico

Honours fulfil one of the most fundamental desires of human beings, namely, to be recognised and held in esteem by others. There are thousands of awards in all areas of society: the state, arts and media, sports, religion, the voluntary sector, academia, and business. Awards are well visible, can raise the recipients' intrinsic motivation and creativity, and establish a bond of loyalty to the giver. They have distinct advantages over money and other rewards.

Presenting empirical evidence using modern statistical techniques Honours versus Money argues that awards can significantly raise performance in different contexts even if they are purely symbolic, recommending how this can be used in practice. It makes the case for reorienting our focus- away from the monetary or material dimensions of work and private life, and towards the symbolic dimensions to celebrate and shine a light on merit and achievement.

Honours versus Money discusses award bestowals in their different forms and facets, including as signals and as components of organisations' human resource strategies. It opens our perspective for motivational strategies beyond money, while also outlining their potential pitfalls.

1. Why Awards?
2. Awards are Popular
3. Types of Awards
4. Awards and Academic Performance
5. Awards in the Voluntary Sector
6. Awards in Firms
7. Honours as Signals
8. The Challenge of Using Awards
9. What Do We Know?