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How creative are you? - An experimental study on self-selection in a competitive incentive scheme for creative performance
Bradler, Christiane
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URL:
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https://ub-madoc.bib.uni-mannheim.de/38866
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URN:
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urn:nbn:de:bsz:180-madoc-388667
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Dokumenttyp:
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Arbeitspapier
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Erscheinungsjahr:
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2015
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Titel einer Zeitschrift oder einer Reihe:
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ZEW Discussion Papers
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Band/Volume:
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15-021
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Ort der Veröffentlichung:
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Mannheim
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Sprache der Veröffentlichung:
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Englisch
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Einrichtung:
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Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
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MADOC-Schriftenreihe:
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Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
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Fachgebiet:
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330 Wirtschaft
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Fachklassifikation:
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JEL:
C91 , D03 , J33 , M52,
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Freie Schlagwörter (Englisch):
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Performance pay , tournaments , selection , sorting , creativity , experiment
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Abstract:
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Economic theory suggests that performance pay may serve as an effective screening device
to attract productive agents. The existing evidence on the self-selection of agents is largely
limited to job tasks where performance is driven by routine, well-defined procedures.
This study presents evidence for a creative task and studies how agents self-select into
a tournament-based scheme vs. a fixed pay scheme. The experiment allows for the
measurement of creative productivity, risk preferences, self-assessments, gender, and other
socio-economic characteristics such as the Big Five personality traits. Results show that the
two payment schemes systematically attract agents with different characteristics. However,
results differ fundamentally from previously found patterns. Agents did not self-select
into the tournament scheme according to their creative productivity, but only according to
their risk attitudes and self-assessments. The reason for the absence of a selection of the
most creative agents into the tournament is that there exist substantial misjudgments of
relative creative productivity. Further evidence from a representative German survey data
set provides additional support for the experimental results suggesting external validity.
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