Non Monetary Incentives

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Relationships of Non-Monetary Incentives, Job Satisfaction and Employee Job Performance

Relationships of Non-Monetary Incentives, Job Satisfaction and Employee Job Performance

Deeprose (1994) argues that recognition has a significant impact on employees‟ motivation and productivity. Effective use of recognition results in improved performance of the organizations. Employees take recognition as part of their feelings of value and appreciation and as a result it increases employees‟ morale, which eventually increases efficiency of organizations. It is for that reason, Danish and Usman (2010) affirm that when rewards and recognition are properly implemented, a good working atmosphere is provided that motivates employees to achieve high performance. Deeprose (1994, p. 3) mentioned “Good managers recognize people by doing things that acknowledge their accomplishments and they reward people by giving them something tangible.” Alam, Saeed, Sahabuddin and Akter (2013) investigated the impact of employee recognition as a factor that predicts their contribution. The result shows a correlation between monetary rewards and employee contribution. However, Murphy (2007) used an online survey to study the effects of monetary and non-monetary incentives on labor turnover. The results of the study revealed that no significant difference was found in labor turnover. Zaman (2011) examined the relationship between extrinsic rewards, intrinsic rewards and motivation among employees of three non- profit organizations in Pakistan. The study used 127 samples and the results show that extrinsic rewards correlate directly with employee motivation while intrinsic reward does not make any significant impact on employee motivation.
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The contribution of non-monetary incentives to Teachers Retention in Public Secondary Schools in Korogwe Urban

The contribution of non-monetary incentives to Teachers Retention in Public Secondary Schools in Korogwe Urban

on your payroll just because they find a true career path. This kind of non-monetary incentive is important for the management to use so as to attract qualified employees. Teachers’ motivation can be achieved without using monetary rewards. Such non- monetary incentives increase teachers morale to work and stay in the teaching profession. MANTEP (1995) posited that employees do not work for money only, and the factors which motivate employees are not necessarily financial. Michalowicz (2011) stressed that promotion is not only giving an employee high position within organization, but also there is other ways of giving employee opportunity such as sending them in training sessions specific to whatever skill the individual is interested in learning. Also, changing employees within their current positions by giving them more autonomy motivates them. For example, to tell the employees that you are not going to check their work all the time is a kind of promotion. In the light of this study, it shows that non-financial incentives motivate and contribute to teachers’ retention.
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Non-Monetary Incentives to Improve Job Performance at Property Company in Penang Malaysia

Non-Monetary Incentives to Improve Job Performance at Property Company in Penang Malaysia

The term “incentives” and “rewards” are used widely in organizations and it configures the same meaning among these two terms. Incentives can be defined as any medium that boosts employees or team of employees to accomplish better results beyond expectations. Incentives can be divided into two main categories which are monetary and non-monetary incentives. In monetary incentives, it includes direct payment of cash meanwhile non-monetary can be in the form of employee promotion to a higher position, flexible working hours, autonomy and getting involve in decision making. Organizations that have a balanced incentive program will likely motivate employees and as a result lead to improved performance (Petrescu& Simon, 2008).
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Motivating bureaucrats with non monetary incentives when state capacity is weak: Evidence from large scale field experiments in Peru

Motivating bureaucrats with non monetary incentives when state capacity is weak: Evidence from large scale field experiments in Peru

We study how non-monetary incentives, motivated by recent advances in behavioral eco- nomics, affect civil servant performance in a context where state capacity is weak. We collab- orated with a government agency in Peru to experimentally vary the content of text messages targeted to civil servants in charge of a school maintenance program. These messages incor- porate behavioral insights in dimensions related to information provision, social norms, and weak forms of monitoring and auditing. We find that these messages are a very cost-effective strategy to enforce compliance with national policies among civil servants. We further study the role of social norms and the salience of social benefits in a follow-up experiment and explore the external validity of our original results by implementing a related experiment with civil servants from a different national program. The findings of these new experiments support our original results and provide additional insights regarding the context in which these incentives may work. Our results highlight the importance of carefully designed non-monetary incentives as a tool to improve civil servant performance when the state lacks institutional mechanisms to enforce compliance.
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Effect of non-monetary incentives on uptake of couples’ counselling and testing among clients attending mobile HIV services in rural Zimbabwe: a cluster-randomised trial

Effect of non-monetary incentives on uptake of couples’ counselling and testing among clients attending mobile HIV services in rural Zimbabwe: a cluster-randomised trial

We found that offering small non-monetary incentives to Zimbabwean adults to test as a couple was associated with a large increase in uptake of CHTC. The association was similar among all testers and similar when analysis was restricted to married or cohabiting couples. Furthermore, providing incentives for CHTC was associated with more people counselled and tested, with those testing more likely to be married or cohabiting, and also more likely to be HIV positive. Consequently, more HIV-positive individuals were identified in the intervention group. Among couple-testers who participated in a telephone survey about 3 months after testing, the main reported motivator to testing was desire to know one another’s status, suggesting that incentives did not alter the motivation for testing. In this survey, we found that coercion and relationship unrest was rare: 2·6% of participants reported having been pressured by their partner or having themselves pressured their partner to test. Relationship unrest, including divorce or separations, all due to HIV diagnosis, was reported by 1·9% of those who tested as a couple.
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The effectiveness of non-monetary incentives in motivating employees in NGO sector in Kenya: A case of concern Worldwide

The effectiveness of non-monetary incentives in motivating employees in NGO sector in Kenya: A case of concern Worldwide

The study conducted a case study of Concern Worlwide where the specific objectives of the study were: To establish the influence of promotion on employees motivation in the NGO Sector in[r]

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Effect of monetary incentives on workers’ performance a study of  selected firms in Anambra state

Effect of monetary incentives on workers’ performance a study of selected firms in Anambra state

The theoretical foundation of this study is anchored in Herzberg two factor model and expectancy theory of work motivation. Although there are many competing theories of motivation, these theories may all be at least partially true and help to explain the behaviour of certain people in specific times. Reviewing these theories of motivation facilitates our understanding of how monetary and non-monetary Incentives can motivate employees to perform in organizational setting. Herzberg two factor model of employee motivation is one of the widely discussed need-based theories of employee motivation. Fredrick Herzberg Two-Factor Theory is the aftermath of landmark study of 203 accountants and engineers interviewed to determine factors responsible for job satisfaction and dissatisfaction. According to Werner and Desimone (2006), Herzberg claimed that people have two sets of basic needs, one focusing on survival and another focusing on personal growth. Herzberg contended that factors in the workplace that satisfy survival needs or hygiene factors, cannot provide job satisfaction but only prevent dissatisfaction. These hygiene factors are pay and security, working conditions, interpersonal relationship, company policy and supervisor. The personal growth factors he considered as motivators are achievement, recognition, the work itself, responsibility, advancement and growth. Herzberg argued that the motivator factors create feelings of job satisfaction but their absence will not necessarily lead to job dissatisfaction. Herzberg two-factor model implies that management must not only provide hygiene factors to avoid dissatisfaction but also must provide motivators (intrinsic factors) for the job itself to have motivating potential. Their motivation-hygiene theory constitutes a good framework for the validity of the argument that non-monetary incentives can be as effective as monetary incentives in the motivation of personnel.
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Monetary Policy, Investment and Non-Fundamental Shocks

Monetary Policy, Investment and Non-Fundamental Shocks

As discussed in Alexandre and Bação (2002) there are three most likely channels by which equity prices impinge on the real economy: households’ wealth effect, Tobin’s q, and the firms’ balance sheet channel. The first channel, the households’ wealth effect, captures the influence of asset prices on households’ wealth and then on aggregate consumption. The second and third channels capture the effect of stock markets on investment (although the balance sheet channel may also apply to consumption). However, empirical studies have not found a strong reliable relation between the stock market and consumption, not giving support to an important role for the wealth effect. Additionally, we concluded that with a wealth effect as estimated in empirical studies there were no significant benefits from reacting to asset prices. We therefore believe that the effects of stock prices on the real economy through its effects on investment and its implications for monetary policy deserve more attention.
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Monetary Policy with Non Separable Government Spending

Monetary Policy with Non Separable Government Spending

The significant role of government consumption in affecting economic conditions raises the necessity for monetary policy to take into account the behaviour of fiscal policy and to also take into account how the presence of the fiscal sector might affect the transmission mechanism of monetary policy in the economy. To test for this, we build an otherwise standard New Keynesian model that incorporates non-separable government consumption. The simulations of the model show that when government consumption has a crowding in effect on private consumption, it will dampen the transmission mechanism of monetary policy, and vice versa. The empirical estimations of the paper also support the theoretical findings of the model, as the panel regression show that, in OECD countries, government consumption dampens the effect of the policy rate on private consumption. These results are robust to the zero lower bound era.
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To what extent do monetary incentives influence the negotiation behavior in business  to business (B2B) settings?

To what extent do monetary incentives influence the negotiation behavior in business to business (B2B) settings?

In the scientific literature, it is discussed about the way in which the agency relationship between principal(s) and agent(s) works. Furthermore, the literature also introduced the agency theory, which emphasizes the above-mentioned problems (Section 2.2) that may arise during a principal-agent relationship. To begin with, companies operating in business-to-business relationships deal with agency problems as well, as the owners (principals) of a company delegate work to managers (agents). However, when there are conflicting interests between owners and managers, agency issues arise (Eisenhardt, 1989, p. 58). When it comes to negotiation behavior being or not influenced by monetary incentives, the principal has to offer monetary compensations to his agents, in the attempt of better aligning the two-party interests. The rationale behind this mechanism is that, if an agent acts in his own interests, without taking into account the principal’s interests, the company might suffer. Therefore, the principal would rather lose money by compensating that agent in the hope of a better alignment of interests, than facing a poor organizational performance. An example of such a situation would be the purchasing manager of a company who exhibits the same negotiation behavior during his negotiation with sellers and does not try to get better deals for his company. Hence, the principal of the company is trying to stipulate the purchasing manager by giving him monetary incentives, with the purpose of getting better deals from his negotiations with sellers.
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Online reporting for malaria surveillance using micro monetary incentives, in urban India 2010 2011

Online reporting for malaria surveillance using micro monetary incentives, in urban India 2010 2011

Crowd-sourcing is an emerging concept where the goal is to outsource tasks traditionally performed by one employee to a large disperse and often anonymous group. In, public health, crowd-sourcing provides a new avenue for disease surveillance [6], especially given the recent ubiquity of information technology tools that can automate and accelerate the data collection process. Par- ticipants are typically motivated to report public health events by the possibility of targeted and rapid interven- tions for themselves and their communities [7]. While many crowd-sourcing efforts [8-10] have proved suc- cessful without providing direct monetary compensation to their participants, stimulating participation remains a key challenge for many projects. Small-monetary com- pensation, (even just as effectively as larger amounts) can increase the rate and quality of paper survey responses as well as drug adherence in patients [11,12]. Amazon’s Mechanical Turk (AMT) is a market in which anyone can post micro-tasks and the responders ("Tur- kers”) receive a stated fee for each task completed. This paper describes a study using Amazon’s Mechanical Turk to investigate the potential of micro-monetary incentives for public health reporting by the general public.
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Macroeconomic Synchronization and Monetary Unions: Is the Euro Area more Synchronous than other Monetary Unions and are Monetary Unions more Synchronous than non Monetary Unions?

Macroeconomic Synchronization and Monetary Unions: Is the Euro Area more Synchronous than other Monetary Unions and are Monetary Unions more Synchronous than non Monetary Unions?

Here we repeat the exercise above, but for GSP/GDP de‡ator in‡ation. Figure 29 shows the average dissimilarity measure for each monetary union together with the 95% con…- dence limits for the non-monetary union control group. The …gure shows that in recent years Canada has been the least synchronous and the average Canadian province could not be distinguished from a member of the non-monetary control group. The euro area dissimilarity measure has on average become more synchronous since the beginning of the time period, but the average appears to have stopped falling and is now level.The US and Australia are clearly the most synchronous monetary union in terms of mean in‡ation move- ments, with Australia consistently having the lowest dissimilarity, which implies it has the highest average level of synchronicity between its constituent members.
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Managerial discretion, incentives and governance rules for non profit organizations

Managerial discretion, incentives and governance rules for non profit organizations

A second effect concerns the possible modification of the control powers. In order to preserve the non-profit aim, control power could be structured on two levels. One level is mainly related to the administrative efficiency of the organization, and the other more geared to evaluating the effectiveness of the organization’s activities. In this case, the role of member is separated from that of bondholder. The members would thus play an active role in fixing organizational policies, while the bondholders would supervise the economic and administrative aspects of the organization trough direct access to social information, and the exercising of any necessary sanction where the policies of the organization are inconsistent with investment security or, in general, in case of mismanagement.
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Effects of prepaid monetary incentives on the return of mail survey and self-reporting about delinquency. Empirical results of an experiment

Effects of prepaid monetary incentives on the return of mail survey and self-reporting about delinquency. Empirical results of an experiment

Ein Ausweg aus dem Erklärungsdilemma scheint die auf der Austauschtheo- rie beruhende Reziprozitätsthese zu sein (Dillmann 2000), die — weil die Austausch- theorie ebenfalls auf der Prämisse individueller Kosten-Nutzen-Abwägung aufbaut  (Homans 1961) — ohne größere Schwierigkeiten in eine aufgeklärte Variante der  Rational Choice Theorie wie etwa der Theorie subjektiver Werterwartung integriert  werden kann. Eine (schriftliche) Befragung wird als sozialer Austausch verstanden  (Esser 1986), der dann zustande kommt, wenn beide Parteien — der Sozialforscher  und die Befragungsperson — sowohl einen gewichtigen Grund zur Annahme haben,  davon zu profitieren, als auch unterschiedliche Präferenzen und Bedürfnisse haben:  Information gegen interessante Fragen. Der Unterschied in der Informiertheit bei- der Interaktionspartner ist Motivation für die befragte Person, den Fragebogen zu  beantworten. Das an keine Bedingungen geknüpfte Geldgeschenk erfordert Nach- giebigkeit  bei  der  Beantwortung  gestellter  Fragen.  Demnach  kann  der  monetäre  Anreiz  nicht  den  Nutzen  aus  der  Teilnahme  an  der  Befragung  herstellen,  da  die  Befragungsperson das Geld ohne Gegenleistung behalten kann: „Das Incentive er- öffnet vielmehr eine soziale Austauschbeziehung mit dem Respondenten: Zunächst  ohne Gegenleistung überreicht, fungiert es als ein ‚symbol of trust‘ (Dillman 2000)  und generiert ein Gefühl der sozialen Verpflichtung des Befragten, dem Wunsch  nach einem Interview zu entsprechen. Die Interviewteilnahme stiftet so durch die  Erfüllung der so genannten Reziprozitätsnorm dem Befragten einen zusätzlichen  Nutzen. Die Reziprozitätsnorm besagt, dass man bemüht sein sollte, freiwillig ge- währte  Vergünstigungen  in  irgendeiner  Form  ‚zurückzuzahlen‘  (Gouldner  1960;  Mauss 1984: 157). Der Wert des Incentives sollte vor diesem Hintergrund deshalb  auch  gegenüber  den  Befragten  nicht  als  ‚Vergütung‘  für  die  Interviewteilnahme  dargestellt werden. (Arzheimer/Klein 1998: 8; vgl. Groves/Singer/Corning 2000). 5  
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Are Non-Fundamental Equilibria Learnable in Models of Monetary Policy?

Are Non-Fundamental Equilibria Learnable in Models of Monetary Policy?

A further analysis of this issue would seem worth while. The (Clarida, Gali, and Gertler 2000) explanation is based on RE and it would be consistent with agents not making systematic errors in their forecasts of in°ation and output gap. Our explanation has agents making forecast errors that do not disappear over time. Agents might believe in PLMs corresponding to the fundamental REE but, since errors do not disappear over time, they might also entertain the possibility of PLM matching the form of some non-fundamental REE. However, even in the latter case, the forecast errors would not disappear over time as all REE are unstable under learning. Thus, one way to test the competing hypotheses is to study the behavior of forecast errors in in°ation and output gaps in the pre-Volcker era.
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Non-Conventional Monetary Policy: The Case of Bolivia

Non-Conventional Monetary Policy: The Case of Bolivia

on the excess growth of the M2 aggregate over the M1. Inflation, the course of real assets and the output gap, follow a normal behavior in terms of asymmetry, kurtosis and non-rejection of adjustment in the distribution, contrary to the variation of the interest rate and the growth of the aggregate M2 over M1 They do not follow a normal distribution, explained by high or low values in the tails (kurtosis with heaviness in the tails) (Table 1). In the contemporary correlations (Table 2), the following statistically significant associations are explained: (i) 1% of overheating in economic activity, is positively related to 0.6% of positive variation in the inflation and in the interest rate variation (0.01 level); (ii) for each variation in inflation of 1%, it is related to a positive variation in the interest rate of the BCB at 0.37% (at the level of 0.05). Through simple correlations, there is no statistically significant association between the different measurements of a non-conventional monetary policy, the output gap, and inflation: However, for every 1% growth in the monetary aggregate M2-M1, the interest rate varies by 0.31% (at the level of 0.05). In Figure 2, the associations (positive, negative or null) are reflected in visual form for the different variables of interest.
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A non monetary form of Clarke pivotal voting

A non monetary form of Clarke pivotal voting

The Clarke Pivotal Voting Mechanism (CPVM) elicits truthful revelation of util- ity functions by requiring any ‘pivotal’ voter to pay a monetary ‘Clarke tax’. This neglects wealth effects and gives disproportionate power to rich voters. We propose to replace the ‘Clarke tax’ with a lottery, wherein the pivotal voter risks long-term exclusion from the CPVM (and any other formal political participation). The re- sulting voting mechanism is nonmanipulable, politically egalitarian, and implements something close to Relative Utilitarianism.

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Assessing the effects of unconventional monetary policy and low interest rates on pension fund risk incentives

Assessing the effects of unconventional monetary policy and low interest rates on pension fund risk incentives

We estimate the BVAR model using one lag order and a rolling approach for the entire sam- ple period. Similar to Kapetanios et al. (2012), we assume that the use of unconventional monetary policy tools, from 2008 until 2011, and the sharp drop in interest rates near to the zero lower bound may have depressed government bond yields by about 100 basis points. To assess the impact of monetary policy shocks on the asset allocation and the risk taking behav- ior of pension funds, we compare actual returns with those of the counterfactual scenario (i.e., government bond yields would have been 100 basis points higher than actual yields in the ab- sence of monetary policy shocks) and take the difference between the two as our estimate. Moreover, we increase the asset allocation to government bonds and decrease the allocation to equities to identify the return to pension fund investments. This procedure is also used in Lenza et al. (2010) and Kapetanios et al. (2012) when they examine the effects of unconven- tional monetary policy on the macroeconomy, and in Ait-Sahalia et al. (2012) when they ad- dress the effect of monetary policy shocks on financial markets. We also use two additional tests by simulating the effects of a 120-basis-point and a 200-basis-point increase in govern- ment bond yields and short-term overnight rates for cash holdings, while allowing the size of adjustment on the yields to vary over the entire sample period.
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Sports betting incentives encourage gamblers to select the long odds: An experimental investigation using monetary rewards

Sports betting incentives encourage gamblers to select the long odds: An experimental investigation using monetary rewards

The study was an online experiment that aimed to fi nd if the presence of betting incentives causes people to select riskier bets, and to fi nd which incentives were preferred. Since incentives offer extra value to consumers, such value should lead to higher consumption, based on well-established tenets of microeconomic theory. However, we hypothesized that betting incentives may also induce gamblers to take extra risks with their bets in the form of selecting longer odds. Framing effects can have a signi fi cant in fl uence on behav- ior. Often incentives appear to lessen risk rather than simply adding value to a transaction (Hing, Sproston, et al., 2017; Lopez-Gonzalez et al., 2018a; Lopez-Gonzalez & Grif fi ths, 2017), and thus might encourage longer odds selection. In addition, incentives can appear to enhance the reward of winning and thereby justify longer odds betting if the
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Cost Incentives and Patient Incentives

Cost Incentives and Patient Incentives

Patient utility u(θ−τ ) is a function of distance between health state and treatment. It is assumed that the patient is fully insured, i.e. costs of treatment do not enter his utility function. Assume that u(θ − τ ) is two times continuously dierentiable, strictly concave and attains its maximum at 0. Put dierently, patient utility is maximized if τ = θ and is lower the further away treatment τ is from this ideal treatment. It is not assumed that u(·) is symmetric and therefore over- and undertreatment might aect utility in dierent ways. The cost function c(τ ) is strictly increasing and marginal costs are bounded away from 0, i.e. c 0 (τ ) ≥ δ ∀τ for some δ > 0. This last assumption implies that the patient's utility is never aligned with the social objective or, put dierently, the patient always prefers a more expensive treatment than socially optimal because he is insured. If there was no such conict, cost incentives would simply not matter for the outcome. Consequently, introducing cost incentives could not even help to reduce costs.
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