Incentive System
The term incentive system refers to a variety of fields, including biology, education, and philosophy. Organizational Psychology, Economics, and Business In organizational psychology, economics and business an incentive system denotes a structure motivating individuals as part of an organization to act in the interest of the organization. A fundamental requirement of creating a working incentive system for individuals and the organization is understanding human behavior and motivators of human behavior. Relevant theories helping to understand human behavior include utility theory, principal-agent theory, need hierarchy theory, two factor theory, cognitive evaluation theory, expectancy theory, goal-setting theory, and equity theory. The many determinants influencing human judgment and decision-making highlights the complexity of understanding human behavior. Bonner grouped them into Knowledge and personal involvement, cognitive processes, task variables, and environmental vari ...
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