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...

Post-docs signal their ability to do science and teaching to get a tenure giving universities the possibility of separating highly talented agents from the low talented ones. However separating that means signalling effort for the highly talented becomes even more important in a two-dimensional...