Tag Archives: Reward and Punishment Super-response Tendency

25 Cognitive Biases - Bias 1 Reward-Punishment Super-Response Tendency

Bias 1 – Reward and Punishment Super-Response Tendency

The power that incentives and disincentives have on the actions of others cannot be overstated. Munger says this should be obvious but so many people don’t understand the how important incentives are for shaping people’s motivation to complete a task. Incentives and disincentives are extremely important in changing behavior. Just follow Benjamin Franklin’s Maxim: “If […]