The Thrill of Victory: Measuring the Incentive to Win

• 成果类型: Article
• 署名作者: Coffey, Bentley; Maloney, M. T.
• 署名单位: Clemson University
• 刊物名称: JOURNAL OF LABOR ECONOMICS
• ISSN/ISSBN: 0734-306X
• DOI: 10.1086/648318
• 发表日期: 2010
• 页码: 87-112
• 关键词: tournaments; IMPACT

摘要

There is ample evidence that incentive-pay structures, such as tournaments, result in increased performance. Is this due to selection or increased individual effort, and is any increased individual effort caused by pecuniary incentives or merely thirst for the thrill of victory (TOV)? Prior literature has not separated the different effects. We look at performance in horse and dog racing and find that only horses, controlled by jockeys during the race, exhibit performance corresponding to pecuniary incentives, while both respond to selection and TOV. The results show that pay structures do matter.