“We learn that where work has little to no meaning or purpose, recognition far exceeds material rewards ineffectiveness, but for work with high meaning and purpose, material rewards boost performance where simple recognition does not.” (IRF Quarterly Academic Review, 2019).
The study by Michael Kosfeld, Susanne Neckermann, and Xiaolan Yang, that was published in Economic Inquiry in 2017 is highlighted in the recent issue of The Incentive Research Foundation’s Quarterly Academic Review.