search query: @indexterm incentives / total: 682
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| Author: | Mirrlees, J. |
| Title: | Incentives and enterprise |
| Journal: | Journal of Economic Research
1998 : NOV, VOL. 3:2, p. 99-112 |
| Index terms: | RESEARCH INCENTIVES ENTERPRISE |
| Language: | eng |
| Abstract: | The author analyzes the role of incentives in making the economy efficient. Incentives matter, first because it is troublesome and difficult to di things well, and it is the prospect of reward that gets people to take the trouble and conquer difficulties. But there is more to incentives than that, because the nature of incentives influences the kind of trouble people take, the tasks they pursue, and the decisions they make. Most particularly, since business managers have highly imperfect information, incentives influence the risks they take, both in kind and in magnitude. |
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