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Home > Business and Economics > Economics > Economic theory and philosophy > Not Just for the Money: An Economic Theory of Personal Motivation
Not Just for the Money: An Economic Theory of Personal Motivation

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


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About the Book

This text poses a challenge to traditional economic theory, arguing that people do not act in expectation of monetary gain alone, nor do they work solely to get paid. It aims to show that higher monetary compensation crowds-out motivation, and offering higher pay makes people less committed to their work, and may reduce their performance. The first part of the book examines the crowding-out effect and the motivational spill-over effect. A large number of applications to constitutional questions, various policy issues and the organization of firms is explored in the second part. In the last part is a discussion of the substantial consequences for policy making and economic theory.

Table of Contents:
Contents: 1. Introduction Part I: The Crowding-Out Effect 2. Everyday Experiences 3. The Psychological Background 4. Integration into Economics 5. Motivational Spill-Over Effect Part II: Applications 6. A Strict or Lenient Constitution? 7. Environmental Policy 8. Siting Policy, or: the NIMBY-problem (with Felix Oberholzer-Gee) 9. Social and Organizational Policy 10. Work Motivation and Compensation Policy Part III Conclusions 11. Consequences for Economic Policy 12. Consequences for Economic Theory References Index

About the Author :
Bruno S. Frey, Distinguished Professor of Behavioural Science, University of Warwick, UK, Guest Professor, Zeppelin University, Friedrichshafen, Germany and Research Director, CREMA – Centre for Research in Economics, Management and the Arts, Switzerland

Review :
'What he [Bruno Frey] offers is both challenging and pervasive in its relevance. He is ambitious enough to aspire to make economics less presumptive and less general, but - as he himself observes - earlier efforts to integrate psychology into economics have been noted while precious little effect on economics as a whole. His book is provocative and interesting and likely to yield some further empirical efforts to measure putative crowding-out effects, but scepticism and inertia are likely to be difficult barriers to overcome.'


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Product Details
  • ISBN-13: 9781858985091
  • Publisher: Edward Elgar Publishing Ltd
  • Publisher Imprint: Edward Elgar Publishing Ltd
  • Height: 216 mm
  • No of Pages: 168
  • Width: 138 mm
  • ISBN-10: 1858985099
  • Publisher Date: 15 May 1997
  • Binding: Hardback
  • Language: English
  • Sub Title: An Economic Theory of Personal Motivation


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