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Motivational Function of Individual Welfare

Author: Igor V. Shcherbakov


The motivational function of individual welfare that is formed under the influence of economic incentives is researched from the viewpoint of the new institutional economics. The author grounds the limited impact of economic incentives on the motivational function of individual welfare and draws analogy between the conclusions made and psychological studies on the optimization of motivation. The paper proves that effectiveness of the motivational function goes up given there are the changes in the incentives or assessments of individual welfare.

Keywords: individual welfare; economic incentive; motivational function; marginal utility; institution.

For citation:

Shcherbakov I. V. Motivatsionnaya funktsiya individual'nogo blagosostoyaniya [Motivational Function of Individual Welfare]. Izvestiya Uralskogo gosudarstvennogo ekonomicheskogo universiteta – Journal of the Ural State University of Economics, 2016, no. 1 (63), pp. 11–16.