I want to start a conversation on Behavioral Economics ("BE") and I want to make sure you can internalize it. . . AND I found the website that helps me!
Here is a personal (and positive) experience that allows you to 'live' BE. Here's what you do:
- Visit stickK and identify a goal you've been struggling to achieve (e.g., marathon, last 10 lbs of baby fat, grad school)
- Register/Login and enter the details of your commitment
- Choose the stakes – this is where it can get REALLY interesting (i.e., I suggest Anti-Charity)!
So. . . essentially decide which of the following is the most LOATHSOME:
- Americans United for Life
- NARAL Pro-Choice America Foundation
- Nature Conservancy
- The National Center for Public Policy Research
- Freedom to Marry
- Institute for Marriage and Public Policy
- Educational Fund to Stop Gun Violence
- NRA Foundation
- George W. Bush Presidential Library
- William Jefferson Clinton Presidential Library
- Set a referee if you REALLY want to be serious
- Start the races!!!!
I found the site through this New Yorker article and find the context of the article hilarious (HINT: I have a similar anti-charity).
QUESTION TO YOU: Have you had a recent retail or service experience on the web that created an incentive structure similar to sticK's? I'd love to hear about it!
To keep this blog fun, and short, I wanted to drop a few more BE references for you all:
- You should check out a great TEB video of Dan Ariely:
- And feel free to read a white paper I worked on while working with Dan (more on the paper later):
- Finally, I want to put a plug in for Dan's book. . . BUY THIS BOOK ;-)
Cheers Folks
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