token economy

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English

Noun

token economy (plural token economies)

  1. (psychology, psychiatry) A system of behavior modification based on the principles of operant conditioning; patients are rewarded with tokens (reinforcers) for engaging in desirable activities.
  2. (cryptocurrencies, economics) An economy based on cryptocurrency tokens.
    • 2019, Chris Brummer, Cryptoassets: Legal, Regulatory, and Monetary Perspectives, Oxford University Press, →ISBN, page 165:
      The supply of any token is also important in the operation of a token economy, as well as for the more fundamental issue of token valuation.

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