What Is Incentive-caused Bias? — Wealest
Incentive caused bias is the impact of incentives (punishments and rewards) on changing human behavior and cognition. These incentives (and disincentives) work as conscious and subconscious drivers of your thoughts and actions. Naval Ravikant, founder of AngelList, says: "Incentives are superp
So, the management team switched the compensation from hourly to a fixed shift rate, with a rule that the workers could go home when the job was done. The workers would now get paid the same rate no matter how long it took to get the planes loaded.
Here are a few common incentives to be aware of:
- Higher Status
- Freedom (working from home)
his list omits Envy:
As usual, Charlie gets the last word:Never, ever, think about something else when you should be thinking about the power of incentives.