![]() Incentives and disincentives are extremely important in changing behavior. Just follow Benjamin Franklin’s Maxim: “If you would persuade, appeal to interest and not to reason” “Never think about something else when you should be thinking about the power of incentives.” “Incentives will almost always trump any moral duty” ‘The most important rule in management “Get the incentives right”‘ “Bad behavior is intensely habit forming when it is rewarded.” These were some quotes from Charlie Munger on Reward and Punishment Super Response… |
![]() The brain of man conserves programming space by being reluctant to change, which is a form of inconsistency avoidance. Factors that create an anti-change and Inconsistency Avoidance Tendency mode in humans:
|
![]() |
![]() |
![]() |
![]() |
![]() |
![]() Man’s imperfect, limited-capacity brain easily drifts into working with what’s easily available to it. And the brain can’t use what it can’t remember or The great algorithm to remember in dealing with availability bias is simple: |