Everybody dreams.

I'm in it for the money.

It's certainly the people you work with.

Bringing me back would've gotten you twice that.

56 billion hours work.

(Laughter)

One

People have to make a living.

You want to be looking around.

Three

You make three... we take one.

And the offered them, for performance, three levels of rewards small reward, medium reward, large reward.

This is more than I have earned.

It is not a minimum wage.

We're sitting on double shares. 2o,ooo apiece!

Another fee!

Apart from his pay, which is considerable...

If the communication takes away your advantage, there's no need for you to learn that kind of communication.

It creates people when you manipulate incentives to get people to do the right thing it creates people who are addicted to incentives.

Let's split the reward fifty fifty.

With 0.1 chance, we'll stay in the same state, in which case the value is 3.

A T is a trigger. A stands for action. R stands for reward.

What is your usual salary?

You can equally define over states in action pairs.

I think that one solution to self control problem in general is reward substitution.

We know that if you reward kids for drawing pictures, they stop caring about the drawing and care only about the reward.

The only reward of virtue is virtue.

You don't punish failure. You reward every little bit of effort a little bit of gold, a little bit of credit.

We can use calculated randomness.

Well, to love well and to work well, you need wisdom.

So we're getting a little bit more confident because we've been there twice, rather than just once.

Your job as teacher is to give him material to learn.

Ok, so she found out. Did you have to kill her? We made a deal, sure.

My usual fee, plus a bonus if I get results.

Name your price, my men

But another way to think about it is, kind of where are all the incentives in the markets?

The reward is dependent on your success.

And they said, Would this effect also happens to experts?

Well, their answer was,

And in that pair, one person gets a message saying,

But this is only beginning, this is not the end.

Who has an incentive to be positive on a stock?

A couple things happened.

So they replicated the experiment in India.

We only want our wages