Honours versus Money: The Economics of Awards by Bruno FreyHonours versus Money: The Economics of Awards by Bruno Frey

Honours versus Money: The Economics of Awards

byBruno Frey, Jana Gallus

Hardcover | September 23, 2017

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Honours fulfil one of the most fundamental desires of human beings, namely, to be recognised and held in esteem by others. There are thousands of awards in all areas of society: the state, arts and media, sports, religion, the voluntary sector, academia, and business. Awards are well visible,can raise the recipients' intrinsic motivation and creativity, and establish a bond of loyalty to the giver. They have distinct advantages over money and other rewards. Presenting empirical evidence using modern statistical techniques Honours versus Money argues that awards can significantly raise performance in different contexts even if they are purely symbolic, recommending how this can be used in practice. It makes the case for reorienting our focus- away fromthe monetary or material dimensions of work and private life, and towards the symbolic dimensions to celebrate and shine a light on merit and achievement.Honours versus Money discusses award bestowals in their different forms and facets, including as signals and as components of organisations' human resource strategies. It opens our perspective for motivational strategies beyond money, while also outlining their potential pitfalls.
Bruno S. Frey is Permanent Visiting Professor at the University of Basel and Research Director CREMA, Center for Research in Economics, Management and the Arts, Zurich. He studied economics at the Universities of Basel and Cambridge; Holds and PhD and became an Associate Professor at the University of Basel; Between 1970-1977 he was Fu...
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Title:Honours versus Money: The Economics of AwardsFormat:HardcoverDimensions:160 pages, 8.5 × 5.31 × 0 inPublished:September 23, 2017Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0198798504

ISBN - 13:9780198798507

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Table of Contents

1. Why Awards?2. Awards are Popular3. Types of Awards4. Awards and Academic Performance5. Awards in the Voluntary Sector6. Awards in Firms7. Honours as Signals8. The Challenge of Using Awards9. What Do We Know?