well we started off in a normal
interview post and now you’re lying down
swinging a pillow round what what’s
going on here if I give you a slice of
juicy fruit when you say whatever I want
yep no wait i heard that you would do
anything for a slice of juicy fruit no
matter how smart you are an economist
think they’re pretty smart you come up
with some incentive scheme that you
think it’s a perfect one to entice
exactly the behavior have in mind and
you said an army of people with nothing
to do all day but to figure out how to
beat that incentives game and they
absolutely well tell them about a Amanda
that’s just a long story you can do
possibly i mean i’ll give you a hug you
an example so we were trying to potty
train my daughter Amanda and my wife
went of the books and did all the things
you’re supposed to do but I meant had
been potty training and she just decided
she wouldn’t use the toilet anymore and
this went on for months my wife was
frustrated and I and I said this is I’m
an economist I understand Santa’s let me
take over and I got right down on
Amanda’s level on my knees and I I knew
what she liked more than anything else
was about three years old we’re eminem’s
and I said if you go pee pee in the
potty I’ll give you a bag of Eminem’s
kid right now and I said yeah it’s it ok
and she walked toward the bodies you
went to the bathroom I turn to my wife
and I said let the economist analyst you
know and indeed for the next couple days
it worked to perfection every time she
had to go bathroom she announced it she
went to the bathroom there’s a lot of
fanfare we gave her the M & M’s
everything is going great but three days
later she said well I have to go to the
bathroom followed her she went trickle
out a few drops I gave her the mms she
got off she said I have to go again she
sat down to the potty trickle a few more
drops a game of them’s gotta go again
basically in three days she’d gone from
someone who could be absolutely no
bladder control to being so you know so
professional at it that that she could
control the flow a completely at
whim and had a three-year-old I
basically come up with a way to beat the
incentive scheme i had developed within
three days that I never in a million
years could have imagined okay and if
you can you know if an economist can
trick a three-year-old for more than
three days what hope does economist have
a trick in the whole country of people
for for you know even three out so
that’s kind of the beauty of incentives
you don’t really know what works and
governments think they know what works
and they spend a huge amount of
resources establishing incentives and
they’re gonna do all these things that
seem to make a lot of sense and that
sound really great and may work out well
in some measure but they’re gonna
backfire in so many different ways that
we can’t predict yet and people will
laugh and people will crime and that’s
what incentives are
interview post and now you’re lying down
swinging a pillow round what what’s
going on here if I give you a slice of
juicy fruit when you say whatever I want
yep no wait i heard that you would do
anything for a slice of juicy fruit no
matter how smart you are an economist
think they’re pretty smart you come up
with some incentive scheme that you
think it’s a perfect one to entice
exactly the behavior have in mind and
you said an army of people with nothing
to do all day but to figure out how to
beat that incentives game and they
absolutely well tell them about a Amanda
that’s just a long story you can do
possibly i mean i’ll give you a hug you
an example so we were trying to potty
train my daughter Amanda and my wife
went of the books and did all the things
you’re supposed to do but I meant had
been potty training and she just decided
she wouldn’t use the toilet anymore and
this went on for months my wife was
frustrated and I and I said this is I’m
an economist I understand Santa’s let me
take over and I got right down on
Amanda’s level on my knees and I I knew
what she liked more than anything else
was about three years old we’re eminem’s
and I said if you go pee pee in the
potty I’ll give you a bag of Eminem’s
kid right now and I said yeah it’s it ok
and she walked toward the bodies you
went to the bathroom I turn to my wife
and I said let the economist analyst you
know and indeed for the next couple days
it worked to perfection every time she
had to go bathroom she announced it she
went to the bathroom there’s a lot of
fanfare we gave her the M & M’s
everything is going great but three days
later she said well I have to go to the
bathroom followed her she went trickle
out a few drops I gave her the mms she
got off she said I have to go again she
sat down to the potty trickle a few more
drops a game of them’s gotta go again
basically in three days she’d gone from
someone who could be absolutely no
bladder control to being so you know so
professional at it that that she could
control the flow a completely at
whim and had a three-year-old I
basically come up with a way to beat the
incentive scheme i had developed within
three days that I never in a million
years could have imagined okay and if
you can you know if an economist can
trick a three-year-old for more than
three days what hope does economist have
a trick in the whole country of people
for for you know even three out so
that’s kind of the beauty of incentives
you don’t really know what works and
governments think they know what works
and they spend a huge amount of
resources establishing incentives and
they’re gonna do all these things that
seem to make a lot of sense and that
sound really great and may work out well
in some measure but they’re gonna
backfire in so many different ways that
we can’t predict yet and people will
laugh and people will crime and that’s
what incentives are
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