Economic ideologyAn economic ideology is a set of views forming the basis of an ideology on how the economy should run. It differentiates itself from economic theory in being normative rather than just explanatory in its approach, whereas the aim of economic theories is to create accurate explanatory models to describe how an economy currently functions. However, the two are closely interrelated, as underlying economic ideology influences the methodology and theory employed in analysis.
IncentiveIn general, incentives are anything that persuade a person to alter their behaviour in the desired manner. It is emphasised that incentives matter by the basic law of economists and the laws of behaviour, which state that higher incentives amount to greater levels of effort and therefore higher levels of performance. An incentive is a powerful tool to influence certain desired behaviors or action often adopted by governments and businesses. Incentives can be broadly broken down into two categories: intrinsic incentives and extrinsic incentives.
Reducing agentIn chemistry, a reducing agent (also known as a reductant, reducer, or electron donor) is a chemical species that "donates" an electron to an (called the , , , or ). Examples of substances that are common reducing agents include the alkali metals, formic acid, oxalic acid, and sulfite compounds. In their pre-reaction states, reducers have extra electrons (that is, they are by themselves reduced) and oxidizers lack electrons (that is, they are by themselves oxidized). This is commonly expressed in terms of their oxidation states.
BehaviorBehavior (American English) or behaviour (British English) is the range of actions and mannerisms made by individuals, organisms, systems or artificial entities in some environment. These systems can include other systems or organisms as well as the inanimate physical environment. It is the computed response of the system or organism to various stimuli or inputs, whether internal or external, conscious or subconscious, overt or covert, and voluntary or involuntary.
Moral hazardIn economics, a moral hazard is a situation where an economic actor has an incentive to increase its exposure to risk because it does not bear the full costs of that risk. For example, when a corporation is insured, it may take on higher risk knowing that its insurance will pay the associated costs. A moral hazard may occur where the actions of the risk-taking party change to the detriment of the cost-bearing party after a financial transaction has taken place.
Message submission agentA message submission agent (MSA), or mail submission agent, is a computer program or software agent that receives electronic mail messages from a mail user agent (MUA) and cooperates with a mail transfer agent (MTA) for delivery of the mail. It uses ESMTP, a variant of the Simple Mail Transfer Protocol (SMTP), as specified in RFC 6409. Many MTAs perform the function of an MSA as well, but there are also programs that are specially designed as MSAs without full MTA functionality.
Message transfer agentWithin the Internet email system, a message transfer agent (MTA), or mail transfer agent, or mail relay is software that transfers electronic mail messages from one computer to another using the Simple Mail Transfer Protocol. In some contexts the alternative names mail server, mail exchanger, and MX host can be used to describe an MTA. Messages exchanged across networks are passed between mail servers, including any attached data files (such as images, multimedia or documents). These servers also often keep mailboxes for email.
Oxidizing agentAn oxidizing agent (also known as an oxidant, oxidizer, electron recipient, or electron acceptor) is a substance in a redox chemical reaction that gains or "accepts"/"receives" an electron from a (called the , , or ). In other words, an oxidizer is any substance that oxidizes another substance. The oxidation state, which describes the degree of loss of electrons, of the oxidizer decreases while that of the reductant increases; this is expressed by saying that oxidizers "undergo reduction" and "are reduced" while reducers "undergo oxidation" and "are oxidized".
MotivationMotivation is the reason for which humans and other animals initiate, continue, or terminate a behavior at a given time. Motivational states are commonly understood as forces acting within the agent that create a disposition to engage in goal-directed behavior. It is often held that different mental states compete with each other and that only the strongest state determines behavior. This means that we can be motivated to do something without actually doing it. The paradigmatic mental state providing motivation is desire.
Contract theoryFrom a legal point of view, a contract is an institutional arrangement for the way in which resources flow, which defines the various relationships between the parties to a transaction or limits the rights and obligations of the parties. From an economic perspective, contract theory studies how economic actors can and do construct contractual arrangements, generally in the presence of information asymmetry. Because of its connections with both agency and incentives, contract theory is often categorized within a field known as law and economics.
