Recall the chapter opening story about the British sea captains and the convicted felons. In what way did economics use the idea of incentives to solve the problem of the high mortality rate on board the ships?

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Economics used the idea of incentives by making payment to ship captains dependent on the survival rate of prisoners. This created an incentive for captains to take better care of the prisoners, as their payment was directly tied to the prisoners' well-being. This led to a significant decrease in the mortality rate on board the ships.

Recall the Chapter Opening Story About the British Sea Captains