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Wednesday 12 February 2020
What is the best way to encourage innovation? Competitive pay may be the answer
Economists and business leaders agree that innovation is a major force behind economic growth, but many disagree on what is the best way to encourage workers to produce the "think-outside-of-the-box" ideas that create newer and better products and services. New research from the University of California San Diego indicates that competitive "winner-takes-all" pay structures are most effective in getting the creative juices flowing that help fuel economic growth.