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- catalog abstract "The author discusses the universal tendency of people to behave in non-rational ways. Though they are Resourceful, Evaluative Maximizers (REMMs) humans are imperfect because their brains are biologically structured so as to blind them from perceiving and correcting errors that cause psychic pain. The result is systematic, non-functional behavior. The author describes a Pain Avoidance Model (PAM) that complements REMM by capturing the non-rational component of human behavior. Recognizing these self-control problems leads to an expansion of agency theory since they are a second source of agency costs in addition to those generated by conflicts of interest between people.".
- catalog contributor b8774832.
- catalog created "1994.".
- catalog date "1994".
- catalog date "1994.".
- catalog dateCopyrighted "1994.".
- catalog description "Includes bibliographical references (p. 14-15).".
- catalog description "The author discusses the universal tendency of people to behave in non-rational ways. Though they are Resourceful, Evaluative Maximizers (REMMs) humans are imperfect because their brains are biologically structured so as to blind them from perceiving and correcting errors that cause psychic pain. The result is systematic, non-functional behavior. The author describes a Pain Avoidance Model (PAM) that complements REMM by capturing the non-rational component of human behavior. Recognizing these self-control problems leads to an expansion of agency theory since they are a second source of agency costs in addition to those generated by conflicts of interest between people.".
- catalog extent "15 p. ;".
- catalog isPartOf "Working paper (Harvard University. Graduate School of Business Administration. Division of Research) ; HBS 95-012.".
- catalog isPartOf "Working paper / Division of Research, Harvard Business School ; 95-012".
- catalog issued "1994".
- catalog issued "1994.".
- catalog language "eng".
- catalog publisher "[Boston] : Division of Research, Harvard Business School,".
- catalog title "Self-interest, altruism, incentives, and agency / by Michael C. Jensen.".
- catalog type "text".