Awards as Signals
Bruno S. Frey
CREMA; University of Basel
University of Zurich - Department of Economics
October 28, 2010
CESifo Working Paper Series No. 3229
Awards are widespread in all countries and are prevalent both in the public sphere and in the private sector. This paper argues, and empirically supports, that awards serve public functions and economists should take them seriously. Using a unique cross-country data set, we suggest that awards serve as signals. Awards are more prevalent the more difficult the position and status of an individual is to observe due to an anonymous and globalized setting.
Number of Pages in PDF File: 25
Keywords: awards, signals, status, anonymity, globalization
JEL Classification: A13, D63, J33
Date posted: October 30, 2010
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