This paper analyzes awards as a means of motivation prevalent in the scientific community, but so far neglected in the economic literature on incentives, and discusses their relationship to monetary compensation. Awards are better suited than performance pay to reward scientific tasks, which are...

This paper analyzes awards as a means of motivation prevalent in the scientific community, but so far neglected in the economic literature on incentives, and discusses their relationship to monetary compensation. Awards are better suited than performance pay to reward scientific tasks, which are...

The article analyzes how economic theory usually investigates corruption. It describes the main traditional economic theories dealing with this issue-principal-agent theory (agency theory) and rent-seeking theory-and it emphasizes that both face some problems, especially their neglect of some...