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Pay Enough or Don't Pay at All

Uri Gneezy and Aldo Rustichini
The Quarterly Journal of Economics
Vol. 115, No. 3 (Aug., 2000), pp. 791-810
Published by: Oxford University Press
Stable URL: http://www.jstor.org/stable/2586896
Page Count: 20
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Pay Enough or Don't Pay at All
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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.

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