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But fresh from their victories, Republicans may have little incentive to defer to Mr. Obama.
"Uncertainty provides an incentive to defer such investments in order to wait for new information".
For one thing, when consumers see prices falling, they have an incentive to defer big purchases.
And doctors have had an incentive to defer these discussions because they weren't compensated for their efforts.
As the fiscal cliff draws nearer, argues Ethan Harris, Bank of America's economist for North America, the incentive to defer hiring and investment will grow, putting pressure on the economy.
The proponents of QE will say that without QE, the US and UK economies would have been even weaker than they would otherwise have been - and we might have experienced pernicious deflation, or intractable falling prices that would have provided businesses and households with a powerful incentive to defer purchases, and thus would have turned recession into vicious depression.
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Larger companies would have to defer parts of incentive compensation for some senior officers and those considered "significant risk-takers", pushing off payments of cash and equity for a number of years.
The problem has been that steel producers had incentives under the old annual-price-setting approach to defer new purchases and get lower rates.
That gives companies a particular incentive to hoard money elsewhere -- sometimes indefinitely -- in order to defer taxation.
Janet Ellingson Salt Lake City, Nov. 15, 2010 To the Editor: Why not encourage more people to defer Social Security payments by improving the incentives for deferral and communicating them better?
"It gives the government a strong incentive to create a fair system so they can ask the courts to defer to this process," he said.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com