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Description
Economics has much to do with incentives--not least, incentives to work hard, to produce quality products, to study, to invest, and to save. Although Adam Smith amply confirmed this more than two hundred years ago in his analysis of sharecropping contracts, only in recent decades has a theory... read more
First Sentence
Incentive theory emerges with the division of labor and exchange.
Table of Contents
Authors & Contributors
- Jean-Jacques Laffont (Author)
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