The Introduction How People Respond to Incentives

There are incentives in all aspects of our lives, such as, home where you do your chores and get rewarded, or at work when you do extra jobs to get a promotion or raise, or at school where you do some extra credit for a better grade. As economist Steven Landsburg writes in The Armchair Economist (1991, p 3), “Most of economics can be summarized in four words: ‘People respond to incentives. ’ The rest is commentary.
” People care about their employers, but they also care about their families, hobbies, gardens, and churches, which for the most part is why the incentives work so well.People respond to incentives differently. Take for example the professional athlete, who loves their team and talks about giving “110 percent” also loves their families, favorite charities, and their different vacation homes. Even the true dedication that they have for the sport comes with incentives, such as earning an extra $100,000 for rushing more than 1000 yards in a season, or $300,000 for being on the Is this Essay helpful? Join OPPapers to read more and access more than 325,000 just like it! GET BETTER GRADES roster for at least for 14 games.Coaches have different incentives, their main objective is to have the best team, but also receive $75,000 extra if at least 75 percent of his senior players graduate. Also if there aren’t any legal and NCAA infractions they receive $50,000 each year. There are bonuses for good grades, but coaches don’t shorten practices to extend study time, that is where incentives kick in, “You look at the proportional size of each bonus, and it’s not very hard to see where, over the long term, the priority and focus are going to be.
  They would rather rewrite a contract on an athlete than change the practice time than to allow them to succeed academically. Incentives drive markets. If people are using a product and the price goes way high, then their incentive is to search for something with the same effect but a lower price. Such as whale oil that people used, until it became too expensive then they turn to an alternative and started using rock…

Don't use plagiarized sources. Get Your Custom Essay on
The Introduction How People Respond to Incentives
Just from $13/Page
Order Essay
Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Order your essay today and save 25% with the discount code: THANKYOUPlace Order
+
Live Chat+1(978) 822-0999EmailWhatsApp