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Geld oder Anerkennung? Zur Ökonomik der Auszeichnungen


*Korrespondenzadresse: Institut für Empirische Wirtschaftsforschung, Universität Zürich, Winterthurerstrasse 30, CH-8006 Zürich, e-mail: – Schriftliche Fassung der Thünen-Lecture 2009.


Abstract: Awards are shown to be of great importance in all societies, in particular in the economy. Nevertheless, economic research has disregarded the determinants and consequences of awards. The paper argues that awards constitute a relevant extrinsic, but non-material form of reward systematically affecting work effort. Data are provided on the distribution of various types of awards in a selection of countries, discusses the differences between awards and money, and considers several possible methods such as surveys, vignette studies, laboratory and field experiments and econometric analyses of specific firms to capture the incentive effects of awards.