Financial Incentives
Definition
Financial incentives refer to rewards or payments given to individuals as motivation for participating in a study or performing a specific task.
Analogy
Think of financial incentives like getting paid for doing household chores. Just like how you might be motivated to clean your room if you know you'll earn some money, participants in studies can be motivated to participate or perform well when they are offered financial rewards.
Related terms
Extrinsic Motivation: Extrinsic motivation refers to being driven by external factors, such as rewards or punishments.
Intrinsic Motivation: Intrinsic motivation refers to being driven by internal factors, such as personal interest or enjoyment.
Ethics: Ethics pertains to moral principles and guidelines that govern the conduct of individuals and organizations.
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