E03 - The Use and Abuse of Incentives
In this episode, Erik dives into the question "do incentives work, such that they improve performance?". To try to answer this complex question, Erik discusses several important lines of research from psychology.(00:00) Introduction(01:09) Psychology of motivation(03:27) Experimental psychology(04:31) Neuroscience(06:18) Interim summary(06:49)Three drawbacks of incentives(07:40) Choking under pressure(10:49) Reduced intrinsic motivation(15:06) Perverse incentives(18:36) ConclusionsFurther reading:Bijleveld, E., Custers, R., & Aarts, H. (2012). Human reward pursuit: From rudimentary to higher-level functions. Current Directions in Psychological Science, 21(3), 194-199.Bijleveld, E., Custers, R., Van der Stigchel, S., Aarts, H., Pas, P., & Vink, M. (2014). Distinct neural responses to conscious versus unconscious monetary reward cues. Human Brain Mapping, 35(11), 5578-5586.Liljeholm, M., & O'Doherty, J. P. (2012). Anything you can do, you can do better: neural substrates of incentive-based performance enhancement. PLoS biology, 10(2), e1001272.Beilock, S. L., Kulp, C. A., Holt, L. E., & Carr, T. H. (2004). More on the fragility of performance: choking under pressure in mathematical problem solving. Journal of Experimental Psychology: General, 133(4), 584.Garbers, Y., & Konradt, U. (2014). The effect of financial incentives on performance: A quantitative review of individual and team‐based financial incentives. Journal of Occupational and Organizational Psychology, 87(1), 102-137.Kerr, S. (1975). On the folly of rewarding A, while hoping for B. Academy of Management Journal, 18(4), 769-783.Gerhart, B., & Fang, M. (2015). Pay, intrinsic motivation, extrinsic motivation, performance, and creativity in the workplace: Revisiting long-held beliefs. Annual Review Organizational Psychology and Organizational Behavavior, 2(1), 489-521.Cover art: Carrot generated with Craiyon.comMusic:Home by Vlad Gluschenko https://soundcloud.com/vgl9Creative Commons — Attribution 3.0 Unported — CC BY 3.0Free Download / Stream: https://www.audiolibrary.com.co/vlad-gluschenko/homeMusic promoted by Audio Library https://youtu.be/FEEQg-ROHJc
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