in a token economy, behaviors are rewarded with tokens (like poker chips or stickers on a chart) that can be exchanged for desired rewards (like candy, money, or extra recess time). the tokens are an example of

Token economics is a branch of economics that focuses on the institutions, laws, and moral principles that govern the creation, exchange, and consumption of tokenized products and services. This study describes the current stage of our economy's tokenization and explores the possible dynamics and implications of a future "token economy."

For tokens to be useful, they must be employed as reinforcers. Tokens are items or symbols that may be used to exchange for goods, services, or benefits (backup reinforcers). Numerous tokens have been employed in practical situations, including coins, checkmarks, pictures of tiny suns or stars, points on a counter, and checkmarks on a poster. Outside of the patient-clinician or teacher-student interaction, these signs and items are essentially useless, but their value comes from the fact that they may be traded for other things. In a technical sense, tokens are secondary or learnt reinforcers rather than primary reinforcers. Token reinforcement has been the subject of a lot of studies, including experiments on animals.

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