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In Not Just for the Money Professor Frey challenges traditional economic theory and argues that people do not act in expectation of monetary gain alone, nor do they work solely because they are paid. Furthermore, the author claims that higher monetary compensation as well as regulations crowd-out motivation in important circumstances. Offering higher pay may make people less committed to their work and may reduce their performance. They thus behave in exactly the opposite way the fundamental price-effect of economics predicts.

The first part of the book considers the Crowding-Out Effect and the Motivational Spill-Over Effect. The second part explores a large number of applications to constitutional questions, various policy issues and the organization of firms. The final part discusses the substantial consequences for policy making and economic theory.

This path breaking book is bound to create controversy and debate. It will appeal not only to economists but to a wide range of social scientists who want to go beyond the traditional assumption of economic man.

Tabla de contenidos provista por Syndetics

• 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

Reseñas proporcionadas por Syndetics

CHOICE Review

Frey (Univ. of Zurich) recognizes that "the use of prices to foster supply, ration demand and to bring them into equilibrium belongs to the major innovations of mankind." In this slim, wise book he argues, however, that we may be expecting too much of the price system and have been relying excessively on the one-dimensional homo oeconomicus of standard economic models. Frey introduces homo oeconomicus maturus, who cares not just about monetary rewards and coercive punishments but who is also intrinsically motivated--performing many activities for "no apparent reward except the activity itself." The book's primary focus is on "crowding out"--a situation in which raising the monetary payoff of an activity undermines intrinsic motivation. This reduces the ability of higher prices to increase supply and sometimes generates a negatively sloped supply curve in certain price ranges. Frey's mathematical model is direct and clear; he surveys a broad literature; and he presents an array of intriguing theoretical and empirical applications--including constitution making, tax collection, environmental policy, the NIMBY problem, blood donation, crime prevention, work motivation, and compensation policy. The book's only shortcoming is its brevity. Upper-division undergraduate through professional collections. R. M. Whaples; Wake Forest University

Notas de autor provistas por Syndetics

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