Monetary versus grade incentives depending on personality traits: A field experiment on undergraduate students’ performance
This study aims to examine the role of personality on the effectiveness in improving students' performance of two extrinsic incentives: monetary and grade incentives. To achieve this goal, we conducted a randomized field experiment in which students in a Microeconomics course were offered the o...
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| Format: | Article |
| Language: | English |
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Elsevier
2023-05-01
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| Series: | Heliyon |
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| Online Access: | http://www.sciencedirect.com/science/article/pii/S240584402303092X |
| _version_ | 1827937447977156608 |
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| author | Noemí Herranz-Zarzoso Gerardo Sabater-Grande |
| author_facet | Noemí Herranz-Zarzoso Gerardo Sabater-Grande |
| author_sort | Noemí Herranz-Zarzoso |
| collection | DOAJ |
| description | This study aims to examine the role of personality on the effectiveness in improving students' performance of two extrinsic incentives: monetary and grade incentives. To achieve this goal, we conducted a randomized field experiment in which students in a Microeconomics course were offered the opportunity to participate in a practice test program, with no effects on the grade of the course itself. In the call to participate, students were informed that participants would be randomly assigned to one of two groups. Whereas in the control group students would not be monetarily incentivized, participants assigned to the treatment group would be paid according to their performance in the practice tests. In addition, we elicited the big five personality and risk aversion traits of the participants (168 undergraduates). All subjects received grade incentives in the later official course exam, in which no monetary incentives were offered. We used non-parametric tests to carry out both between-subjects and within-subjects performance comparisons. Controlling for potential confounding factors like students' gender and academic record, our OLS regressions indicate that although monetary incentives are effective in improving students’ performance in practice tests, their effect does not carry over to the course exam. Furthermore, we find that the effectiveness of grade incentives (used in the course exam) on improvement as a substitute for monetary incentives (adopted in practice tests), is higher the more conscientious the students are. |
| first_indexed | 2024-03-13T08:25:45Z |
| format | Article |
| id | doaj.art-686864da355d40e39806c89be11c8535 |
| institution | Directory Open Access Journal |
| issn | 2405-8440 |
| language | English |
| last_indexed | 2024-03-13T08:25:45Z |
| publishDate | 2023-05-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Heliyon |
| spelling | doaj.art-686864da355d40e39806c89be11c85352023-05-31T04:45:52ZengElsevierHeliyon2405-84402023-05-0195e15885Monetary versus grade incentives depending on personality traits: A field experiment on undergraduate students’ performanceNoemí Herranz-Zarzoso0Gerardo Sabater-Grande1Department of Economic Analysis, University of Valencia. Av. Taronjers, s/n 46022, Valencia, SpainLEE & Economics Department, University Jaume I, Av. De Vicent Sos Baynat, s/n 12071, Castellón, Spain; Corresponding author.This study aims to examine the role of personality on the effectiveness in improving students' performance of two extrinsic incentives: monetary and grade incentives. To achieve this goal, we conducted a randomized field experiment in which students in a Microeconomics course were offered the opportunity to participate in a practice test program, with no effects on the grade of the course itself. In the call to participate, students were informed that participants would be randomly assigned to one of two groups. Whereas in the control group students would not be monetarily incentivized, participants assigned to the treatment group would be paid according to their performance in the practice tests. In addition, we elicited the big five personality and risk aversion traits of the participants (168 undergraduates). All subjects received grade incentives in the later official course exam, in which no monetary incentives were offered. We used non-parametric tests to carry out both between-subjects and within-subjects performance comparisons. Controlling for potential confounding factors like students' gender and academic record, our OLS regressions indicate that although monetary incentives are effective in improving students’ performance in practice tests, their effect does not carry over to the course exam. Furthermore, we find that the effectiveness of grade incentives (used in the course exam) on improvement as a substitute for monetary incentives (adopted in practice tests), is higher the more conscientious the students are.http://www.sciencedirect.com/science/article/pii/S240584402303092XAcademic performanceMonetary incentivesGrade incentivesPersonality traits |
| spellingShingle | Noemí Herranz-Zarzoso Gerardo Sabater-Grande Monetary versus grade incentives depending on personality traits: A field experiment on undergraduate students’ performance Heliyon Academic performance Monetary incentives Grade incentives Personality traits |
| title | Monetary versus grade incentives depending on personality traits: A field experiment on undergraduate students’ performance |
| title_full | Monetary versus grade incentives depending on personality traits: A field experiment on undergraduate students’ performance |
| title_fullStr | Monetary versus grade incentives depending on personality traits: A field experiment on undergraduate students’ performance |
| title_full_unstemmed | Monetary versus grade incentives depending on personality traits: A field experiment on undergraduate students’ performance |
| title_short | Monetary versus grade incentives depending on personality traits: A field experiment on undergraduate students’ performance |
| title_sort | monetary versus grade incentives depending on personality traits a field experiment on undergraduate students performance |
| topic | Academic performance Monetary incentives Grade incentives Personality traits |
| url | http://www.sciencedirect.com/science/article/pii/S240584402303092X |
| work_keys_str_mv | AT noemiherranzzarzoso monetaryversusgradeincentivesdependingonpersonalitytraitsafieldexperimentonundergraduatestudentsperformance AT gerardosabatergrande monetaryversusgradeincentivesdependingonpersonalitytraitsafieldexperimentonundergraduatestudentsperformance |