So today I feel like talking about incentives… Yeah…
You see the picture, of this book I am reading… Well, I am not reading it yet, but I plan to. I have read the other 2, “Think like a Freak” and “Freakonomics” written by the same authors, Steven D. Levitt and Stephen J.Dubner. I think, I messed up the reading order but who cares. Brilliant, amazing, mind-blowing books and very inspiring.
I enjoy reading these 2 villains’ of economics research and how extraordinary they are, how out of their fu***** minds they might sound. And that’s a good reason, to me (“not that I need one, it’s my goddddddamn blog”) to dedicate an entire post to their ingenious maze of work.
Firstly, I will look utterly obvious and annoying but I will say it anyway, I absolutely recommend the books; the three of them. You will get a full insight of what triggers certain dynamics in our world nowadays and what the consequences are. These realistic scenarios, or call them bed time stories or whatever you like, explain the incentives that influence our lives, how they impact our daily boring routines, or the bigger picture… yes the bigger picture where some get to play the Big Bad Wolves… (“why is it “wolves”? I wonder if Little Red Riding Hood would be proud of this”)
The thing about the books is not to actually know what happens around us (ok, that as well of course, it’s always good to be well-informed) but mostly to open our minds to the vast possibilities of what might happen when the right or the wrong incentive is actioned.
– Awareness of the incentives… you think it’s all about the money??? NAH – NAH… It’s all about incentives. Money is one of the many more.
– We are subject of incentives. Every time, everywhere. This is how it works.
– If we are… then the rest of the population is as well… always.
– Incentives are an input to provide a certain outcome, be it: behavior, action, product, service etc. In case you are wondering if the “nothing at all” outcome counts, yes it does. It’s still an outcome, quite probably an unexpected one, but an outcome all right. Therefore we switch to the point below.
– An incentive strategy might not always bring the expected outcome. Now here comes the funny part. You expect people to react in a certain way, that’s why you are bothering to provide an incentive in the first place. Thing is that people will transform your incentives to their own convenience. Moral? You should foretell beforehand what the transformation might be and consider if the outcome is to your liking. Anyway get ready to experiment 😉
– The “What would I Do…” is good but not good enough… you got to do much more… study, read, and learn about who you are trying to influence.
I don’t want to be more boring than I already am :p. So I won’t be explaining what happens in the books. This is no story time.
I decided to be a woman of action therefore I will push you to take action. Read the books.
And start thinking like a FREAK! (whisper:“it’s good for your mental health, they say”)
xoxo #kristinakoti #NewFreakonomicInTown uh la la la \oo/