Posts Tagged ‘Incentives’

Why Did Contract Theory Deserve a Nobel Prize?

As technology improves and organizations become more complex, the theory and practice of contract design will only increase in importance. As such, we owe, we owe a great debt to this year’s Nobel laureates in economics for giving us powerful tools to structure effective contracts.

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Existing Career Incentives Are Often Bad for Science

A culture of bad science can evolve as a result of institutional incentives that prioritize simple quantitative metrics as measures of success, argues Paul Smaldino. But, he adds, not all is lost as new initiatives such as open data and replication are making a positive difference.

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Sperm donation and incentives in New Zealand

Here’s the Adam Smith Institute on New Zealand’s sperm shortage: The world simply will not make sense if you do not grasp the first and most basic thing you must know about economics. Which is that incentives matter. What the incentive is, …

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