There Are Twelve Guidelines for Creating a Motivational Incentive System

question 119

Essay

There are twelve guidelines for creating a motivational incentive system.What are four of them?

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Definitions:

Total Utility

The total satisfaction or benefit received by consuming a certain quantity of goods or services.

Utils

A hypothetical unit of measure used to quantify the satisfaction or utility that a consumer derives from consuming a good or service.

Marginal Utility per Dollar

The additional satisfaction or utility gained from consuming an additional unit of a good or service per unit of currency spent.

Utility-maximizing Consumer

A consumer who aims to get the highest level of satisfaction possible from their purchases, given their budget constraints.