Meaning of Incentive from wikipedia - In general, incentives are anything that persuade a person or organization to alter their behavior to produce the desired outcome. The laws of economists...- The phrase "perverse incentive" is often used in economics to describe an incentive structure with un...
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005 Recovery The amount of a deduction or creditable expense paid in a previous year that is later refunded to the taxpayer. The recovered amount must usually be included in income in the year it is received, ...
oligopoly- (economics) a market in which control over the supply of a commodity is in the hands of a small number of producers and each one can influence prices and affect competitors moral hazard- (economics) the lack of any incentive to guard against a risk when you are protected against...
Also found in: Thesaurus, Medical, Financial, Idioms, Encyclopedia, Wikipedia. in·cen·tive (ĭn-sĕn′tĭv) n. Something, such as the fear of punishment or the expectation of reward, that induces action or motivates effort. adj. Serving to induce or motivate: an incentive bonus for...
Duopoly: Definition in Economics, Types, and Examples Welcome to the Finance category of our blog! Today, we are going to delve into the intriguing world of duopoly, a concept that holds significant relevance in the field of economics. Have you ever wondered what a duopoly is and how it af...
To understand how overshooting works, let’s consider a hypothetical scenario. Assume that Country X has a high-interest rate compared to Country Y. This difference in interest rates creates an incentive for investors to move their funds from Country Y to Country X. ...
often charge lower fares from 9:00amuntil 3:00pmon weekdays, for example, encouraging shoppers to travel when a system is not filled with commuters. Carriers have “incentive” rates to encourage increased utilization of equipment, and they will charge less per unit of weight for larger ...
pre in·cen tivenoun su per·in·cen tivenoun adjective Discover More Word History and Origins Origin ofincentive1 First recorded in 1400–50;late Middle English,fromLate Latinincentīvus“provocative,” inLatin:“setting the tune,” fromincent(us)“played” (past participle ofincinere“to pla...
and resource allocation (i.e. how much a company makes and what it manufactures) does not happen on its own. On the supply side, price fixing can deter innovation, as companies have less incentive to compete on quality, innovation, or cost-effectiveness...
The business version of the ratchet effect can also be similar to that experienced in government bureaucracies, where agents—in this case, managers—have an incentive to support a larger, more complex array of products, services, and infrastructure to support the operations they manage. ...