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Incentives in Markets, Firms and Governments

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NBER2003-06-01 更新2025-01-04 收录
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https://www.nber.org/papers/w9802
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Most government expenditure is on goods that yield primarily private benefits, such as education, pensions, and healthcare. We argue that markets are most advantageous in areas where high-powered incentives are desirable, but in areas where high-powered incentives stimulate unproductive signalling
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2003-06-01
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