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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,...
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The standard principal agent model considers monetary incentives only. It is assumed that money is more efficient than …) - though almost omnipresent - have so far escaped the attention of economists. They present extrinsic, non-monetary incentives … differences between monetary incentives and awards: in general, awards are cheap, lead to interpersonal relationships, are not …
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Motivated people are crucial to create a sustainable competitive advantage for your company. Successful Management by Motivation shows that in a knowledge-based society, this goal cannot be achieved by extrinsic motivation alone. Pay for performance often even hurts because it crowds out...
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The motivation crowding effect suggests that an external intervention via monetary incentives or punishments may …
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