Incentives at workplace 'help people make better decisions'

Source: newkerala.com

Washington, Feb 29 : Money, which has always been considered great for buying stuff, is also useful for keeping score and might help people make better decisions, a new study has claimed. 

According to Thomas Rietz from the Tippie College of Business, without any kind of incentive peoples' decisions may seem irrational and have little logical connection.

"If you offer incentives to people, it generates more economically rational decisions," Rietz said. 

"The incentive doesn't even have to be money. If it's just a way to keep score, it still makes a difference," he said.

Rietz and his co-authors Joyce Berg, professor of accounting at University of Iowa, and the late John W. Dickhaut, professor of economics and accounting at Chapman University, reached their award-winning conclusions by modifying an experiment that economists and psychologists have used for decades to determine peoples' motivations.

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