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The Effect of Financial Rewards on Students' Achievements: Evidence from a Randomized Experiment

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Author Info
Leuven, Edwin
Oosterbeek, Hessel
van der Klaauw, Bas

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Abstract

This Paper reports a randomized field experiment in which first year economics and business students at the University of Amsterdam could earn financial rewards for passing all first year requirements before the start of their second academic year. Participants were assigned to a high reward group, a low reward group or a no reward (control) group. Overall, the passing rate and the numbers of collected credit point are not significantly different across the three groups. The same is true for the reported amounts of study time. We find, however, some evidence of heterogenous treatment effects. In particular, students with high maths skills and students with higher educated fathers have higher passing rates and collect more credit points when assigned to (higher) reward groups. While reported study time for these groups is not affected by treatment status, these students claim that they have studied harder as a consequence of the rewards.

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Publisher Info
Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 3921.

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Date of creation: Jun 2003
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Handle: RePEc:cpr:ceprdp:3921

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Related research
Keywords: financial incentives; heterogenous treatment effects; randomized social experiment; student acheivement; university education;

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Find related papers by JEL classification:
I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
I22 - Health, Education, and Welfare - - Education - - - Educational Finance
J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

References listed on IDEAS
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  1. Leuven, Edwin & Oosterbeek, Hessel & van der Klaauw, Bas, 2003. "The Effect of Financial Rewards on Students' Achievements: Evidence from a Randomized Experiment," CEPR Discussion Papers 3921, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  2. Tomas J. Philipson, 2000. "External Treatment Effects and Program Implementation Bias," NBER Technical Working Papers 0250, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  3. Camerer, Colin F. & Hogarth, Robin M., 1999. "The Effects of Financial Incentives in Experiments: A Review and Capital-Labor-Production Framework," Working Papers 1059, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
  4. James J. Heckman & Lance Lochner & Christopher Taber, 1999. "General Equilibrium Cost Benefit Analysis of Education and Tax Policies," NBER Working Papers 6881, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  5. Hanushek, Eric A, 1986. "The Economics of Schooling: Production and Efficiency in Public Schools," Journal of Economic Literature, American Economic Association, vol. 24(3), pages 1141-77, September. [Downloadable!] (restricted)
  6. Uri Gneezy & Aldo Rustichini, 2000. "Pay Enough Or Don'T Pay At All," The Quarterly Journal of Economics, MIT Press, vol. 115(3), pages 791-810, August. [Downloadable!] (restricted)
  7. Joshua Angrist & Eric Bettinger & Erik Bloom & Elizabeth King & Michael Kremer, 2001. "Vouchers for Private Schooling in Colombia: Evidence from a Randomized Natural Experiment," NBER Working Papers 8343, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  8. Angrist, Joshua & Lavy, Victor, 2002. "The Effect of High School Matriculation Awards: Evidence from Randomized Trials," CEPR Discussion Papers 3827, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  9. Caroline M. Hoxby, 2000. "The Effects Of Class Size On Student Achievement: New Evidence From Population Variation," The Quarterly Journal of Economics, MIT Press, vol. 115(4), pages 1239-1285, November. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Michèle Belot & Erik Canton & Dinand Webbink, 2007. "Does reducing student support affect scholastic performance? Evidence from a Dutch reform," Empirical Economics, Springer, vol. 32(2), pages 261-275, May. [Downloadable!] (restricted)
  2. Joshua Angrist & Daniel Lang & Philip Oreopoulos, 2007. "Incentives and Services for College Achievement: Evidence from a Randomized Trial," IZA Discussion Papers 3134, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  3. Edwin Leuven & Hessel Oosterbeek & Bas van der Klaauw, 2006. "The effect of financial rewards on students' achievement: Evidence from a randomized experiment," Artefactual Field Experiments 0065, The Field Experiments Website. [Downloadable!]
    Other versions:
  4. Jason M. Lindo & Nicholas J. Sanders & Philip Oreopoulos, 2008. "Ability, Gender, and Performance Standards: Evidence from Academic Probation," NBER Working Papers 14261, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  5. Alexander Kritikos, 2006. "The Impact of Compulsory Arbitration on Bargaining Behavior: An Experimental Study," Economics of Governance, Springer, vol. 7(3), pages 293-315, August. [Downloadable!] (restricted)
  6. Leuven, Edwin & Oosterbeek, Hessel & Sonnemans, Joep & van der Klaauw, Bas, 2008. "Incentives versus Sorting in Tournaments: Evidence from a Field Experiment," IZA Discussion Papers 3326, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  7. Justin van der Sluis & Mirjam van Praag & Arjen van Witteloostuijn, 2004. "Comparing the Returns to Education for Entrepreneurs and Employees," Tinbergen Institute Discussion Papers 04-104/3, Tinbergen Institute. [Downloadable!]
  8. van der Klaauw, Bas & van Vuuren, Aico & Berkhout, Peter, 2005. "Labor market prospects search intensity and the transition from college to work," Working Paper Series 2005:9, IFAU - Institute for Labour Market Policy Evaluation. [Downloadable!]
    Other versions:
  9. Michael Kremer & Edward Miguel & Rebecca Thornton, 2004. "Incentives to Learn," NBER Working Papers 10971, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  10. Michael Kremer & Edward Miguel & Rebecca Thorton, 2004. "Incentives to Learn," Center for International and Development Economics Research, Working Paper Series 1060, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley. [Downloadable!]
  11. Joshua Angrist & Daniel Lang & Philip Oreopoulos, 2006. "Lead Them to Water and Pay Them to Drink: An Experiment with Services and Incentives for College Achievement," NBER Working Papers 12790, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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