Dan Ariely
speaker
4 appearances
1 recordings
1 series
first heard Jul 2014
last heard Jul 2014
Dan Ariely’s voice in public audio — every appearance, attributed to the second.
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Appearances
There is a very important principle in behavioural economics called loss aversion.
And loss aversion is the idea that people hate losing more than they enjoy gaining.
But it turns out that if you punish people, it is more effective in the short run, but people hate it so much that they might leave their job.
So if I gave you negative bonuses for bad performance, it would be very motivating, but you might also leave the job in total and find a job that doesn't hurt you this much.
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