Discretionary rewards as a feedback mechanism

Suvorov, Anton; Ven, Jeroen van de

doi:10.1016/j.geb.2009.03.002

Cited by 39 publications

(23 citation statements)

References 29 publications

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“…Among others, awards motivate (1) because winning an award makes the recipient feel good about himself irrespective of monetary or status consequences, hence even without others knowing about the award, (2) because awards are typically conferred by a principal whose opinion the agent values, (3) because of the social prestige they generate and recognition they bring within the peer 9 Examples of recent economic works addressing aspects related to awards are analyses of status incentives (e.g. Auriol and Renault 2001, forthcoming, Dubey and Geanakoplos 2005, Ederer and Patacconi 2004, Loch et al 2001, and Fershtman et al 2001, of rewards as feedback (Sururov and van de Ven 2006), of social recognition (Brennan andPettit 2004 andEnglish 2005), of reciprocity (e.g. Gächter 2000, Fehr andSchmidt 2004), of identity (Akerlof and Kranton 2005), of conventions (e.g.…”

Section: The Nature Of Awardsmentioning

confidence: 99%

Awards: A View from Psychological Economics

Frey

Neckermann

2008

SSRN Journal

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Awards in the form of orders, decorations, prizes, and titles are ubiquitous in monarchies and republics, private organizations, not-for-profit, and profit-oriented firms. This paper argues that awards present a unique combination of different stimuli and that they are distinct and unlike other monetary and non-monetary rewards. Despite their relevance in all areas of life awards have not received much scientific attention. We propose to study awards and present results on a vignette experiment that quantifies and isolates the effects of different award characteristics such as the publicity associated with winning an award. Further, employing a unique data set, we demonstrate that there are substantial differences in the intensity of usage of awards across countries. Introduction Awards all overIf an alien were to look at the social life of people here on earth, it would be stunned by the enormous number of awards in the form of orders, medals, decorations, prizes, titles and other honors. It would be hard pressed to find any area of society in which awards are not used. Awards are equally ubiquitous in monarchies as in staunch republics. In the French Republic, for instance, the légion d'honneur plays an important role, and 3'000 such awards are conferred annually (House of Commons 2004). In the United States, the President and Congress bestow medals, while at the same time purple hearts, bronze and silver stars are handed out quite liberally, and at an increasing rate in the military service (Cowen 2000: 93). It is well known that a flood of orders, medals and titles (such as "Hero of the Soviet Union" or "Hero of Socialist Labour") was handed out in communist countries, such as the Soviet Union or the German Democratic Republic, and that this behavior it is typical for both rightand left-wing dictatorships.Awards exist not only at the national level. In the arts, culture and the media, awards are also of central importance. A few prominent examples are the Academy Awards (Oscars), the prizes handed out by the film festivals at Cannes, Venice or Berlin, the (1'200 persons), and "Young Global Leaders" (1'111 persons below 40 years of age).It would be a mistake to attribute this trend simply to "Americanism". In Britain, for instance, the leaders of many large corporations are decorated with orders and titles. 6Or take the Dalai Lama who has received a myriad of awards and honors among them the Nobel Peace Prize, two honorary doctorates, the honorary citizenship of the Ukraine, and the United States Congressional Gold Medal. LiteratureThe science of phaleristics (the Greek and Roman word for award) has produced a large literature on specific awards, in particular on orders, decorations and medals. Despite the importance of awards in society, economists have largely disregarded them. 8 However, there is some literature in economics that provides insights into isolated aspects of awards. A typical way for (standard) economists to look at awards would be in terms of the signal emitted (see Spence 197...

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Section: The Nature Of Awardsmentioning

confidence: 99%

Awards: A View from Psychological Economics

Frey

Neckermann

2008

SSRN Journal

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“…The mechanism that in the present model allows truth-telling to be sustainable is related to that studied in Suvorov and van de Ven (2009), who show that if the agent has intrinsic motivation to provide effort, the feedback role of performance assessments mitigates the reneging problem and makes subjective incentive schemes feasible even without infinite interaction. The present article does not presuppose that the agent is intrinsically motivated and instead studies the role of objective measures in sustaining subjective evaluations.…”

Section: Introductionmentioning

confidence: 87%

Subjective evaluations with performance feedback

Zábojník

2014

The RAND J of Economics

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. I thank Ricardo Alonso, Guy Arie, David Besanko, Odilon Camara, Bob Gibbons, Yuk-fai Fong, Jin Li, Tony Marino, John Matsusaka, Volker Nocke, Michael Raith, Heikki Rantakari, the seminar participants at Michigan State, Northwestern (Kellogg), and USC (Marshall), and the audiences at various conferences for helpful comments and suggestions. I have also bene…ted from discussions with Marco Ottaviani. The hospitality of the M&S Department at the Kellogg School of Management and the …nancial support provided by the SSHRC are gratefully acknowledged. Terms of use: Documents in

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“…After all, the inclusion of assessment indicators defined by the subjective perception of stakeholders entails further to the risk of local specialization (desirable under certain conditions), the negligence of important elements overseen by their interests or perception. Therefore, any framework including subjective evaluation criteria as part of their assessment process should further include an objective (statistic) procedure for the correction of potential discrepancies and vice versa [58][59].…”

Section: Tourism Sustainability: An Integrative Approachmentioning

confidence: 99%

Tourism sustainability methodologies: A critical assessment

Glyptou

Paravantis

Παπαθεοδώρου

et al. 2014

IISA 2014, the 5th International Conference on Information, Intelligence, Systems and Applications

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Abstract-In an era of economic crisis and serious environmental constraints, the transition to sustainability enters dynamically the debate over long-term preservation and welfare at a systemic level. Tourism is a resource-(capital, human and natural) demanding sector; this paper explores the variety and diversity of methodological approaches and tools employed in the evaluation of tourism, and their potential to support sustainability-oriented assessments and practices. Ranging from traditional economics-oriented frameworks to assessments of impact and ecological footprint, this paper discusses the prevailing assessment frameworks of specific tourism dimensions heading towards the integrative approaches for Tourism Sustainability Assessment. The review highlights that despite the widespread acceptance of the concept and the international consensus on the importance of its operationalization, the transition towards tourism sustainability remains still a complicated and rather problematic endeavour.

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Discretionary rewards as a feedback mechanism

Cited by 39 publications

References 29 publications

Awards: A View from Psychological Economics

Awards: A View from Psychological Economics

Subjective evaluations with performance feedback

Tourism sustainability methodologies: A critical assessment

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