Are you aware of the THREE flavours of an INCENTIVE?These are what they are..

Adopted from the following great insight shared by Steven Levitt from the book Freakonomics “There are three basic flavors of incentive: economic, social, and moral. Very often a single incentive scheme will include all three varieties. Think about the anti-smoking campaign of recent years. The addition of a $3-per-pack “sin tax” is a strong economicContinue reading “Are you aware of the THREE flavours of an INCENTIVE?These are what they are..”

This is how INTERNET has bridged the gap between EXPERTs and PUBLIC

Adopted from the following great insight shared by Steven Levitt from the book Freakonomics “Information is the currency of the Internet. As a medium, the Internet is brilliantly efficient at shifting information from the hands of those who have it into the hands of those who do not. Often, as in the case of termContinue reading “This is how INTERNET has bridged the gap between EXPERTs and PUBLIC”

Amazing illustration on the THREE components of an INCENTIVE..

Adopted from the following great insight shared by Steven Levitt from the book Freakonomics “There are three basic flavors of incentive: economic, social, and moral. Very often a single incentive scheme will include all three varieties. Think about the anti-smoking campaign of recent years. The addition of a $3-per-pack “sin tax” is a strong economicContinue reading “Amazing illustration on the THREE components of an INCENTIVE..”

This is how we gauge our IDENTITY..

Adopted from the following great insight shared by Steven Levitt from the book Freakonomics “Social scientists sometimes talk about the concept of “identity“. It is the idea that you have a particular vision of the kind of person you are, and you feel awful when you do things that are out of line with thatContinue reading “This is how we gauge our IDENTITY..”

What has MORALITY got to do with ECONOMICS?

Adopted from the following great insight shared by Steven Levitt from the book Freakonomics.. “Morality, it could be argued, represents the way that people would like the world to work, wheareas economics represents how it actually does work.”

“Deliberate Practice” has three key components

Adopted from the Steven Levitt’s book SuperFreakonomics.. Deliberate practice has three key components: Setting specific goals Obtaining immediate feedback & Concentrating as much on technique as on outcome.