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Pay Enough or Don't Pay at All

Uri Gneezy and Aldo Rustichini

The Quarterly Journal of Economics, 2000, vol. 115, issue 3, 791-810

Abstract: Economists usually assume that monetary incentives improve performance, and psychologists claim that the opposite may happen. We present and discuss a set of experiments designed to test these contrasting claims. We found that the effect of monetary compensation on performance was not monotonic. In the treatments in which money was offered, a larger amount yielded a higher performance. However, offering money did not always produce an improvement: subjects who were offered monetary incentives performed more poorly than those who were offered no compensation. Several possible interpretations of the results are discussed.

Date: 2000
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Working Paper: Pay Enough - Or Don't Pay at All (1998) Downloads
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