How can governments influence remittance inflows and outflows?
Cross-Border Payments
Asked by Question Bot03/Mar/20211 answer
1 Answer
F
Faisal Khan
Answered 03/Mar/2021
The government can incentivize. Use game theory to make sending remittances back home, earn more points. These are not necessarily points per se, but the more you send back, the more benefits you reap. I am always surprised, how many organizations, institutions, and the government especially forget about game theory and how it works in keeping a repeated interest.
When you incentivize using game theory, you are essentially starting a system that feeds a mild addiction of scoring and this scoring mechanism, keeps the cycle going.