There would also be positive consequences for those seeking to protect and preserve green space in New York, as the enhanced purses that would result would yield new incentives for horsemen and breeders operating here now and stimulate the economic vitality of upstate New York.
We don't know how they will work, or what the side-effects (higher government bond yields, reduced incentives for entrepreneurs) will be.
Since medical cost are usually reimbursed to hospitals on a fee-for-service basis, a longer hospital stay yields economic incentives for the hospital.
This argument yields an incentive for default, as transaction costs are significantly smaller.
Moreover, if the teams are sufficiently large, the exit restrictions yield stronger work incentives than exit rights whenever private production is viable.
South Korean analysts consider Mr. Jang to be a significant influence in Kim Jong-un's recent efforts to tame his military and carry out his economic revitalization program, which, according to South Korean news media, includes allowing farmers to own part of their annual yield as an incentive.
South Korean news media, citing unidentified sources within the North, have reported in recent weeks that the program includes depriving the North Korean military of its lucrative trading rights and allowing farmers to keep 30 percent of their annual yield as an incentive to encourage their productivity.
Given that no disclosure is necessary for trade secret protection, promoting trade secrets through incentives yields no reciprocal long-term social benefit.
Another issue is incentives.
The financial reform bill also takes aim at an industry practice known as "yield spread premiums": offering incentives to mortgage brokers and loan officers who sell higher-interest (and therefore higher-profit) loans to borrowers.
