The effectiveness of incentivizing routine or manual tasks has often been been studied. The effectiveness of incentives for non-routine, analytical tasks, such as data analytics, is much more difficult to determine. As well as the usual free-riding in teams, performance metrics are
noisier and these tasks tend to
have
higher levels of intrinsic motivation. Englmaier et al (2024) find a clever setting to test the efficacy of external incentives - escape rooms. A 10 euro incentive to escape with 45 minutes, doubles the likelihood of meeting the target. The usual time allotted is 60 minutes. This provides some evidence that bonus incentives can be a viable instrument to increase performance in these tasks.
Thursday, August 22, 2024
Incentivizing Data Analytic Teams
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