Business & Career

Carrots and Sticks

Business & Career

Carrots and Sticks

Ian Ayres

We often sacrifice long-term gains in favor of short-term pleasures because we are captives of the now. Fortunately for us, there is a technique to break this terrible behavior. It begins with rewards and penalties, also known as carrots and sticks.

self-help

productivity

psychology

14 min

8 Bite

Aperçu

De quoi s'agit-il ?

By reading the remarkable guide regarding behavior, rewards, and self-discipline, Carrots and Sticks (2010), you will learn how to replace harmful behaviors with incentives and self-discipline. You'll also learn the abilities required to overcome obstacles in the way of weight loss, giving up smoking, and retirement savings.

Résumé du livre

Ian Ayres is an American economist, lawyer, and author known for his work in the fields of law and economics, behavioral economics, and corporate law. He has made significant contributions to these areas through his research, writings, and academic work.

“My nephew Marty has a T-shirt that says on the front: “There are 10 types of people in the world…” If you read these words and are trying to think of what the ten types are, you’ve already typed yourself. The back of the shirt reads: “Those that understand binary, and those that don’t.”

Joel Waldfogel is one of the smartest and funniest economists on the planet. I think of him every time I start to unwrap a present. Buy Scroogenomics for your friends and family. It makes the perfect Christmas gift.

“When it comes to apples, Adam and Eve aren't alone in being impatient when presented with an immediate temptation."

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Toutes les bouchées

8 Bites

Small, immediate benefits are more appealing to us than big, longer-term ones.

Our hate for losing exceeds our love for winning. Many people view retirement savings as equivalent to losing money.

Although we may have little self-discipline, we can improve it by "exercising" more.

Sticks are the punishment, and carrots are the reward. Which is the most effective? Interestingly, the stick.

Small sticks won't dissuade an animal. But a large stick makes even a potential criminal think twice.

A number of tiny sticks could be irritating. But, on the other hand, you can't help but submit when you're hit with a big stick.

Make a commitment contract with yourself. Then, in order to achieve your goals, consult a third party to keep you on track.

Setting realistic goals or long-lasting commitment contracts is necessary for long-term results.

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