Classic Economical Theory Don T News Today : Breaking News, Live Updates & Top Stories | Vimarsana

From observing the world. you ll actually looked at salary caps on professional athletic teams in the united states versus europe where there are no salary caps, and you don t see any effort difference in the salary capped players versus the players that don t have any salary caps at all. no, of course not because winning is everything. and it s the same thing amongst ceos. all they want to do is be richer than their friend ceos. the level doesn t matter, what matters is the rank. this incentive issue is what you re finding throughout your research. incentives in classic economical theory don t work in the real world we may think they do. for example, the argument about welfare disincentivizing people. they won t try to work if you give them welfare. what did you find about that? similarly, the poor also don t stop working if there are no incentives for them to work. that s also an illusion when, ....

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