EconPapers    
Economics at your fingertips  
 

Knight Fever towards an Economics of Awards

Bruno Frey

No 239, IEW - Working Papers from Institute for Empirical Research in Economics - University of Zurich

Abstract: Awards in the form of orders, medals, decorations and titles are ubiquitous in monarchies and republics, private organizations, not-for-profit and profit-oriented firms. Nevertheless, economists have disregarded this kind of non-material extrinsic incentive. The demand for awards relies on an individual�s desire for distinction, and the supply of awards on the provision of incentives. Relative price and income effects are shown to be identifiable and strong. A number of empirically testable propositions are formulated. As awards are (at least so far) impossible to measure adequately, empirical tests are carried out using the technique of analytic narratives.

Keywords: Incentives; motivation; awards; orders; distinction; principal-agent (search for similar items in EconPapers)
JEL-codes: D23 D73 J22 J33 L22 Z13 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dcm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (49)

Downloads: (external link)
https://www.zora.uzh.ch/id/eprint/52131/1/iewwp239.pdf (application/pdf)

Related works:
Working Paper: Knight Fever – Towards an Economics of Awards (2005) Downloads
Working Paper: Knight Fever: Towards an Economics of Awards (2005) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:zur:iewwpx:239

Access Statistics for this paper

More papers in IEW - Working Papers from Institute for Empirical Research in Economics - University of Zurich
Bibliographic data for series maintained by Severin Oswald ().

 
Page updated 2024-06-12
Handle: RePEc:zur:iewwpx:239