Not Just for the Money: An Economic Theory of Personal Motivation

Not Just for the Money: An Economic Theory of Personal Motivation

by Bruno S. Frey, Ntozake Shange
     
 

In Not Just For the Money Professor Frey challenges traditional economic theory and argues that people do not act in expectation of monetary gain alone, nor do they work solely because they are paid. Furthermore the author claims that higher monetary compensation as well as regulations crowd-out motivation in important circumstances. Offering higher pay may make… See more details below

Overview

In Not Just For the Money Professor Frey challenges traditional economic theory and argues that people do not act in expectation of monetary gain alone, nor do they work solely because they are paid. Furthermore the author claims that higher monetary compensation as well as regulations crowd-out motivation in important circumstances. Offering higher pay may make people less committed to their work and may reduce their performance. They thus behave in exactly the opposite way the fundamental price-effect of economics predicts. The first part of the book considers the Crowding-Out Effect and the Motivational Spill-Over Effect. The second part explores a large number of applications to constitutional questions, various policy issues and the organization of firms. The final part discusses the substantial consequences for policy making and economic theory.

Product Details

ISBN-13:
9781858988450
Publisher:
Elgar, Edward Publishing, Inc.
Publication date:
02/28/1998
Pages:
168
Product dimensions:
5.40(w) x 8.40(h) x 0.60(d)

Table of Contents

List of Tables and Figures
Preface
1Introduction: The market and beyond1
2Everyday experiences7
3The psychological background13
3Integration into economics20
5Motivational Spill-Over Effect35
6A strict or lenient constitution?43
7Environmental policy56
8Siting policy, or: the NIMBY-problem67
9Social and organizational policy79
10Work motivation and compensation policy88
11Consequences for economic policy105
12Consequences for economic theory118
References126
Author index149
Subject index154

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