Better Than Cash

Hidden Brain

Hidden Brain Media

Arts, Science, Performing Arts, Social Sciences

4.6 • 40.4K Ratings

🗓️ 25 February 2019

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our modern world is saturated with awards. From elementary school classrooms to Hollywood to the hallways of academia, there's no shortage of prizes. But — do they work?

Transcript

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0:00.0	This is Hidden Brain, I'm Shankar Vedantan.
0:03.1	You may have noticed that our modern world is saturated with awards.
0:08.4	Welcome to the 77th Annual P-Body Awards.
0:11.6	Welcome to the 2019 Golden Millions Academy Awards.
0:16.4	We will date time at the fifth annual Tony Awards.
0:19.6	Teacher of annual Ignore Millions.
0:21.6	And our entire Life Achievement Award.
0:23.6	Live from Copenhagen!
0:26.4	Many of these awards have been created in the past century.
0:32.3	But awards have been around for millennia.
0:35.3	The Greeks and Romans had them.
0:37.2	Kings and Queens have long given them to their bravest warriors.
0:41.1	Societies all over the world have recognized their best citizens with prizes.
0:46.9	We pay tribute to those distinguished individuals with our nation's highest civilian honor.
0:53.2	The Presidential Medal of Freedom.
0:56.8	Awards are so ubiquitous that we rarely stop to ask,
1:00.8	do they work, do prizes inspire and motivate, or do they cause jealousy and resentment?
1:07.9	The upside, the downside, and the psychology of awards, this week on Hidden Brain.
1:14.3	Bruno Frey is an economist who has spent years studying how prizes shape human behavior.
1:26.5	He works at the University of Basel in Switzerland.
1:29.3	Along with Jana Gallus, he is co-author of the book, Honors vs Money, the Economics of Awards.
1:37.9	Getting an award makes people feel good, but Bruno says,
	...

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