What makes you tick?

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I came across this really fascinating TedTalk by Dan Ariely (http://en.wikipedia.org/wiki/Dan_Ariely) on YouTube.

It is being said that more people from our generation  we are giving job satisfaction importance. I have always wondered how much truism is in it? More importantly, what exactly is job satisfaction? I think Mr. Dan Ariely explains this in a very articulate manner. Through the outcomes of a series of experiments, he divides the motivation to work into internal and external factors.

The internal motivation required to continue work is directly correlated to the degree of effort put in to complete the work. The more effort we put in leads to us putting more value to the output, irrespective of the actual value, and hence there is higher ownership towards it and increased desire to continue working.

The external motivation is dependent on, what is always known, the payment of effort. It need not only be monetary or material (but this is what is practiced mostly: the reward for good work is higher bonus, the incentive to improve performance is promise of higher bonus). Recognition plays a significant role. However, it is also true and proved through experiments here that there is always a gap between value (thus return) perceived by the maker and the appraiser.