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The irrationality of rationality in market economics: a paradox of incentives perspective

The irrationality of rationality in market economics: a paradox of incentives perspective
The irrationality of rationality in market economics: a paradox of incentives perspective
Current incentive structures are more favorably aligned with the world’s problems than with their solutions. We conceptualize this as the paradox of incentives to argue the need for new thinking and restructuring of incentives to break the paradox during the COVID-19 pandemic and beyond, and create new opportunities for societal transformation.
COVID-19 pandemic, incentives, inequality, justice, paradox, peace, rationality
0007-6503
482-487
Tamvada, Jagannadha Pawan
767d0374-3cc1-4822-adb6-f22b7a1f6531
Chowdhury, Rashedur
d9c0a66a-90d6-46e3-8855-945863126c30
Tamvada, Jagannadha Pawan
767d0374-3cc1-4822-adb6-f22b7a1f6531
Chowdhury, Rashedur
d9c0a66a-90d6-46e3-8855-945863126c30

Tamvada, Jagannadha Pawan and Chowdhury, Rashedur (2023) The irrationality of rationality in market economics: a paradox of incentives perspective. Business & Society, 62 (3), 482-487. (doi:10.1177/00076503221101888).

Record type: Article

Abstract

Current incentive structures are more favorably aligned with the world’s problems than with their solutions. We conceptualize this as the paradox of incentives to argue the need for new thinking and restructuring of incentives to break the paradox during the COVID-19 pandemic and beyond, and create new opportunities for societal transformation.

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Accepted/In Press date: 20 April 2022
e-pub ahead of print date: 10 June 2022
Published date: March 2023
Keywords: COVID-19 pandemic, incentives, inequality, justice, paradox, peace, rationality

Identifiers

Local EPrints ID: 456054
URI: http://eprints.soton.ac.uk/id/eprint/456054
DOI: doi:10.1177/00076503221101888
ISSN: 0007-6503
PURE UUID: 63690f5c-8de9-4139-8c32-eaaf1b0a3aae
ORCID for Jagannadha Pawan Tamvada: ORCID iD orcid.org/0000-0002-1225-3174
ORCID for Rashedur Chowdhury: ORCID iD orcid.org/0000-0002-5118-8344

Catalogue record

Date deposited: 25 Apr 2022 16:39
Last modified: 24 Oct 2023 01:47

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Contributors

Author: Jagannadha Pawan Tamvada ORCID iD
Author: Rashedur Chowdhury ORCID iD

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