The Thrill of Victory: Measuring the Incentive to Win
研究了锦标赛等激励薪酬结构如何通过选择、个人努力和金钱激励影响表现，利用赛马和赛狗数据发现只有赛马对金钱激励有反应，而两者都受选择和胜利刺激影响。
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. (c) 2010 by The University of Chicago.