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Playing 'Hard to Get': An Economic Rationale for Crowding Out of Intrinsically Motivated Behavior

Schnedler, Wendelin ; Vanberg, Christoph

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Abstract

Anecdotal, empirical, and experimental evidence suggests that offering extrinsic rewards for certain activities can reduce people's willingness to engage in those activities voluntarily. We propose a simple rationale for this 'crowding out' phenomenon, using standard economic arguments. The central idea is that the potential to earn rewards in return for an activity may create incentives to play 'hard to get' in an effort to increase those rewards. We discuss two specic contexts in which such incentives arise. In the first, refraining from the activity causes others to attach higher value to it because it becomes scarce. In the second, restraint serves to conceal the actor's intrinsic motivation. In both cases, not engaging in the activity causes others to offer larger rewards. Our theory yields the testable prediction that such effects are likely to occur when a motivated actor enjoys a sufficient degree of 'market power.'

Dokumententyp: Arbeitspapier
Name der Reihe: Discussion Paper Series / University of Heidelberg, Department of Economics
Band: 0559
Erstellungsdatum: 21 Mrz. 2014 14:39
Erscheinungsjahr: März 2014
Seitenanzahl: 23
Institute/Einrichtungen: Fakultät für Wirtschafts- und Sozialwissenschaften > Alfred-Weber Institut
DDC-Sachgruppe: 330 Wirtschaft
Freie Schlagwörter: intrinsic motivation, crowding out, behavioral economics, market power, hidden information
Schriftenreihe: Discussion Paper Series / University of Heidelberg, Department of Economics
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