Journal article

Fostering innovation: Experimental evidence on the effectiveness of behavioral interventions

BP2-STS

  • 19.10.2022
Published in:
  • PLoS ONE. - 2022, vol. 17, no. 10, p. 1-17
English We experimentally investigate an intervention that ought to motivate innovative behavior by changing risk perceptions. Participants run a virtual lemonade stand and face a trade-off between exploiting a known strategy and exploring untested approaches. Innovation through testing new approaches comes along with a risk of failure because participants are compensated based on the profits generated by their virtual business. We test whether we can draw attention away from this risk by implementing a salience mechanism, which ought to focus participants on the input rather than the outcome of the innovative process. However, we find that this intervention is not effective in motivating innovative behavior—rather, it jeopardizes innovation. We discuss potential behavioral channels and encourage further research of risk salience as a tool to foster innovation. Our pre-registered study highlights the importance of evaluating interventions before implementation, as even carefully designed interventions may turn out to be ineffective or even backfire.
Faculty
Faculté des sciences économiques et sociales et du management
Department
Département d'économie politique
Language
  • English
Classification
Economics
License
License undefined
Identifiers
Persistent URL
https://folia.unifr.ch/unifr/documents/322687
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