Category Archives: Incentives

Economic Thinking

Did a shiver go down your spine when you read the title of this post? For some reason, economics and economic thinking has gotten a bad reputation. Many people just hear the word economics and they have flashbacks to bad … Continue reading

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Choose your own adventure

Remember those “Choose Your Own Adventure” books? At the end of a chapter, the reader would get to choose to go left or right and turn to an appropriate page to find out how your choice played out. Below are a couple … Continue reading

Posted in Incentives, Respect | Tagged , , , | 3 Comments

Don’t Tell Me No!

I’ve been thinking a lot about how and why we should decide what to do at work.  Specifically, I have a basic assumption that I’m trying to question.  I generally believe that we would rather rely on market (or quasi-market) … Continue reading

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Five Dimensions Roundup

The five dimensions of Market-Based Management are listed on page 26 of The Science of Success: Vision: Determining where and how the organization can create the greatest long-term value. Virtue and Talents: Helping ensure that people with the right values, … Continue reading

Posted in Decision Rights, Incentives, Knowledge Processes, Virtue and Talents, Vision | 1 Comment

What’s New?

Every now and again I pop over to Stanford’s ECorner to see what’s new. Here are a few new clips from the past 4 months or so. First, here’s Bill Gross talking about “Motivation Through Equity and Risk-Taking.” Next, Guy Kawasaki suggests you … Continue reading

Posted in Incentives, Knowledge Processes, Sea Stories | 2 Comments

MBM as Advertised: Incentives

This week’s ad is a classic, especially for basketball fans from the 80s and 90s: Here, Michael Jordan and Larry Bird elevate their shooting skills to amazing heights. Why? For a Big Mac, of course. This ad emphasizes–somewhat humorously–the fact … Continue reading

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The Art of MBM: The Joy of Teamwork

When I reflect on my career, I never think back on the size of my compensation package at any of the stages along the way. No, what stands out in my memory, what I think about both proudly and fondly, … Continue reading

Posted in Incentives, Music | Tagged , , , , | 3 Comments

The Pursuit of Happiness

“The main issue in the new American culture war between free enterprise and statism is not material riches – it is human flourishing. This is a battle about nothing less than our ability to pursue happiness.” So proclaims Arthur Brooks … Continue reading

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The Art of MBM: Empire Builder

What’s the opposite of a Principled Entrepreneur? An unprincipled entrepreneur? Well, yes. But historian Burton Folsom has a more descriptive term: a political entrepreneur. Political entrepreneurs (a.k.a. crony capitalists) achieve financial success not by competing in a free market but … Continue reading

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Quick Takes: Incentives in the Workplace

I want to pass on this neat story about incentives in the workplace from Michelle. Below is an excerpt from the email Michelle sent me about the story and a link to the examples she highlights. Below is a link … Continue reading

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