Incentives: Motivation and the Economics of Information

Abstract

A successful organization must coordinate the activities of its constituent parts. Effective coordination is problematic when the components of the organization are managed by individuals whose primary concern is personal gain, not the success of the institution. However, if everyone is motivated by narrow self-interest, the pursuit of self-interest will be self-defeating unless individual decisions are made under incentives that foster the organization's goals. This book studies incentive environments, and evaluates the resulting performance of a wide range of institutions. It also investigates the extent to which performance can be improved by modifying the incentives

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