Uri Gneezy at a recent conference summarised his research on incentives in the following golden rules:
– no money for nothing
– make incentives count (can you do better?)
– target the right people
– make incentives strategy proof
– pay enough or not at all (when social motivation is at work)
– create habits
The wealth of evidence on incentives is amazing, as Gneezy’s research shows. However, there is no unifying theory of incentives.
How far are we from one?