Incentive
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An Incentive is a thing that motivates an agent to perform an action.
- Context:
- It can range from being an Economic Incentive to being a Social Incentive to being ...
- …
- Counter-Example(s):
- a Disincentive.
- See: Co-Operation, Competition, Reward, Punishment, Pride, Principal-Agent Dilemma.
References
2014
- (Wikipedia, 2014) ⇒ http://en.wikipedia.org/wiki/incentive Retrieved:2014-11-2.
- An incentive is something that motivates an individual to perform an action. The study of incentive structures is central to the study of all economic activities (both in terms of individual decision-making and in terms of co-operation and competition within a larger institutional structure). Economic analysis, then, of the differences between societies (and between different organizations within a society) largely amounts to characterizing the differences in incentive structures faced by individuals involved in these collective efforts. Ultimately, incentives aim to provide value for money and contribute to organizational success.