If we want our kids to thrive in school, maybe we should just pay them.
This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
This podcast dynamically inserts audio advertisements of varying lengths for each download. As a result, the transcription time indexes may be inaccurate.
Thanks to Pennsylvania, lottery, scratch, ass, pennsylvanians or scratching their way to fine, and we new games every month. Big top rises, and second chance drawings, excitements, always in order so try, Pennsylvania, lottery, scratch offer your ticket to fund and get yours today, keep on scratching must be eighteen or older. Please play responsibly benefits older pennsylvanians every day, Fr Economics, radio sponsored by three m. What do these? He saves used in both posted notes and aeroplanes have in common. They both me. With innovations from three m, in fact, there are lots of three M product. Hiding in plain sight that you might not realise including endless me five respirators in response do the covert maintain pandemic. Three M has increased risk, greater production to make more respirators than ever before, helping those front lines. Continue. The fight learn more three m dot com, slash covert.
from ATM american public media and w and Y see this. Reaganomics, radio on marketplace, there's the host of marketplace tirades doc. It's that moment. Every couple of weeks we don T, usually Stephen Dumber, about in spite of everything. This week, though, the hidden brains bind the aberrations eleven economist at the University of Chicago Steve, how I am too great Yeah, well you here's the thing, would you do it done Norman? You know how I love Gough. I somehow managed to convince Debonnair. He loves golf takes a now. Now we got a flip acquainting tweet to see who often do not forget. You know what I cannot see dumber playing to save his life, but but I guess that's all another interview. So when we got we're talking about what schools tonight, we are about incentives about about bribing kids, do better in school oak, oh good,
all your parents out there get ready to write, and so what? What? What do we know about bribing kids? Does it work every one great thing about kids? Is it that the relatively cheap to bribe and answer? I no going back in time when I was a kid, my pet The bribe me you should a mainstay of our household is that if I did well in school, they give me fifty dollars, maybe forever now get out of here. Fifty bucks girl tons whilst and that I certainly do with my kids. So you, u dangle twenty bucks in Rome and say this is yours. You begin to day I mean how does it work? One theory about that is that people in general the kid especially airing present oriented that what happens to them tomorrow or fifteen minutes to now matters much more than what happens a year later, so that study that without I've, just done with some colleagues, comes to kids writers who sit down the tests, as we will give you twenty dollars as soon as the test is over. If you improve your performance compared to the last time that you took it, and so we did this
over six thousand kids using financial rewards in using non financial rewards, like trophies we varied. Everybody gets a trophy nowadays than you know that I'm not now? Instead it should. You should see the looks on that gives basis, because one of the things we also do is we give them the trophy we let them hold the trophy near the trophy. I enjoy the trouble trophy right on their desk in front of them, as I think the best thing don't do. Well, we snatched away from only you do not we absolutely they. Economists are heartless under guns man, it hurts more to lose something they tours than it is benefit to gain something. My guess would be that the trophies work for like the third graters, but once you get to a junior high school, he wants to show me the money read for the young kids, the trophies work, great, The money works great tartar to convince the older kids there. Only the money works in and the money really works. All the time works best. When you put it in front of them you yet let them see it, and then you snatch it back from them when they don't you,
what happens, though, Steve when let's say these kids went to college, they go on in the life and nobody's their hidden them. Twenty bucks. If they do well right deal lose the gains, and I look at my own experience, which is always dangerous, but I went away to cards in my parents stopped rewarding, we re getting good grades, it wouldn't like I stop doing it. The counter argument is said: you build up good study, have its hard work and in those persist over time, but but come on european economies. The universe is, God of Granite right. You're
What I am now have you sent me I didn't cause is drawing up, I well my dear colleague Mediterranean. What do we know about boys? Verses, girl, random? It is there a is there a gender differences in how this thing work does a huge gender differences that we see here, which is at Blois, are much more responsive and always levels to every kind of incentive. Withdraw them. Boys can be broad, it's exactly. I went, I think, what it really comes down and we ve seen this and in many other settings, is that girls, basically always try pretty hard and when you incentivize them
can't try them much harder, but boys, basically completely slack off unless the stakes are really high euro, as of course you're gonna. Hold me now is my kids buccaneers on the radio, they're gonna say dead, twenty bucks. Honestly, it is one of the best investments you can make really cause you. Children to change behaviour are giving examples. I have a son who doesn't care at all about school is only third greater, but he had a computer assisted math programme here, but about a total of an hour in fifteen minutes on it over the first month that he had it. He asked me for fifty bucks you we could get a new toy intercourse. I said no, but then I said well, look if you can finish the entire third grade math programme I'll, give you this fifty dollar toy. He ended up spending about forty hours over the next week doing math. I may even more time in that one week.
math, any Protestant and his entire life, and we both couldn't been happier- I mean that's the beauty is, if you do you take it by our costs me about a dollar and our voted on earth there there's a kind of has been given outright. God knows rate d I mean compared to trying to you know: get someone to cut my law nor to cut my hair. It was a bargain. Is a trade barriers, still love it at the universe? Gardeners back in a couple of weeks for economics that com is their websites, defect, alot, Thank you guys biogas listeners. It's me, Stephen Dublin, coming up on the next reconfirmed the legacy, she'll be remembered as an astute businesswoman rabbit historic.
I fastening houses and a boundless created. She loved her family history, antiques horses, the arts and good gossip, she was a difficult mother and a horrendous mother law. She will still be, must will hear some stories about Steve jobs to, but maybe not the story. You think that's on next week's for economic radio broadcasts, the legacy of a jerk.
Transcript generated on 2021-03-16.