Behavioral Economist’s Latest Solution to Every Problem? Alcohol

Apparently, alcohol is the answer to all of life's problems. At least that's the impression you might get if you read Dan Ariely's latest column in the Wall Street Journal. Here's the first email he received: Hi, Dan. At work we have a large code base—all the source codes for our computer programs—and it’s managed … Continue reading Behavioral Economist’s Latest Solution to Every Problem? Alcohol

Do Some People Need Money to Do the Right Thing?

We've all heard the pitch, "Police are offering $1,000 for tips that lead to the arrest of so and so", and I'm guessing like most of you, I don't even pay attention. But for some reason when I heard it today, it made me think about the details of such offers and question why such … Continue reading Do Some People Need Money to Do the Right Thing?

You Get the Behavior You Reward

A basic tenet of management is that you get the behavior that you reward. The problem is that many times there are unintended consequences associated with the behavior that you get, and it ends up undermining the ultimate objective the reward was meant to encourage. For example, I tell my students that I could guarantee … Continue reading You Get the Behavior You Reward