Start / Modern Wisdom / 609 uri gneezy how to understand psychological incentives

#609 - Uri Gneezy - How To Understand Psychological Incentives

77 min • 1 april 2023

Uri Gneezy is a behavioural economist, a professor at the University of California and an author who's research focuses on human incentives.

Incentives encourage humans to do things. But they're not as straight forward as you might think. They often have unintended and disastrous consequences for our personal lives, businesses and societies. Basically, a bad incentive is worse than no incentive at all.

Expect to learn why paying citizens 10p for a rat tail is a bad idea, how fining parents for taking their kids on holiday results in more kids missing school, why the Toyota Prius won because of its strange design, how reframing discounts can rapidly change behaviour, why Peloton's sales went up when they increased the price, why Coke machines have an outdoors thermometer on them and much more...

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