The token economy

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Token economy: A system or marketplace where decisions are made driven by economic incentives of digital tokens.

Burrhus Frederic Skinner, or more commonly known as B.F. Skinner, was an American psychologist, behaviorist, and social philosopher who used the term "token economy" in 1972 in a video titled Token Economy: Behaviorism Applied" (https://www.youtube.com/watch?v=fyFzPgIy-0g). Skinner used this concept in the context of using physical tokens in a program of therapy for the treatment of criminals and the mentally ill. As a side note, the writer of the famous American animated sitcom The Simpsons, Jon Vitti, named the "Principal Skinner" character after B.F. Skinner (The Simpsons season 2 DVD commentary for the episode ...

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