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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...
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us to estimate the impact of receiving an award on effort. The performance of winners proves to be significantly higher … than that of comparable non-recipients after the award has been presented. This increase in work effort is sizeable, robust …
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