#25 – Julia Shvets on Overconfidence, Rank Incentives, and Lab vs Field Experiments
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How Do Financial Incentive Schemes Affect People's Performance?
Economists have been exploring the idea that people might care about their relative standing status prestige. A lot of organizations employ incentive schemes where people are ranked against each other, and then they're paid based on this ranking. But if we think that people are actually driven by rank itself, it means that these schemes have separate effects on people that are not through financial incentives.
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