Jump to ContentJump to Main Navigation
The Global Financial Crisis and Its AftermathHidden Factors in the Meltdown$
Users without a subscription are not able to see the full content.

A.G. Malliaris, Leslie Shaw, and Hersh Shefrin

Print publication date: 2016

Print ISBN-13: 9780199386222

Published to Oxford Scholarship Online: January 2017

DOI: 10.1093/acprof:oso/9780199386222.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 20 November 2019

The Varieties of Incentive Experience

The Varieties of Incentive Experience

Chapter:
(p.205) 8 The Varieties of Incentive Experience
Source:
The Global Financial Crisis and Its Aftermath
Author(s):

Robert W. Kolb

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199386222.003.0008

This study uses the 2007–2012 financial crisis as a laboratory for examining a variety of incentives and distinguishes five key types. First, there are natural incentives. Second, “strictly speaking” incentives arise when one party makes a specific conditional offer in order to elicit a particular behavior. Third, socially emergent incentives arise out of the interplay of human elements to create conditions that make certain behaviors attractive, but without anyone intentionally creating those incentives. Fourth, governmental and other human institutions intentionally create institutionally constructed incentives, often accompanied by a host of unintended consequences. That is, the institutionally constructed incentives to do one thing also constitute socially emergent incentives to do other things. Fifth, cooperative-game incentives are a type of socially emergent incentive. These incentives give two or more parties incentives to pursue a particular course of action while denying that the behavior is related to the incentives they confront.

Keywords:   incentives, socially emergent, institutionally constructed, unintended consequences, cooperative game

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .