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		<title>Discover Your Inner Economist</title>
		<link>https://jonathanbecher.com/2016/06/26/discover-inner-economist/</link>
					<comments>https://jonathanbecher.com/2016/06/26/discover-inner-economist/#comments</comments>
		
		<dc:creator><![CDATA[Jonathan Becher]]></dc:creator>
		<pubDate>Sun, 26 Jun 2016 21:27:01 +0000</pubDate>
				<category><![CDATA[blogging]]></category>
		<category><![CDATA[books]]></category>
		<category><![CDATA[communication]]></category>
		<category><![CDATA[Culture]]></category>
		<category><![CDATA[Discovery Your Inner Economist]]></category>
		<category><![CDATA[meetings]]></category>
		<category><![CDATA[rewards]]></category>
		<category><![CDATA[Tyler Cowan]]></category>
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					<description><![CDATA[<p>I’ve been meaning to read Tyler Cowen’s Discover Your Inner Economist since it came out a decade ago. Cowen is an economics professor at George Mason University who describes himself as a &#8220;curious intellectual nerd polymath.&#8221; He also runs marginalrevolution.com, arguably one of the best economics blogs. While I was intrigued by the subtitle “Use Incentives...</p>
<p>The post <a href="https://jonathanbecher.com/2016/06/26/discover-inner-economist/">Discover Your Inner Economist</a> appeared first on <a href="https://jonathanbecher.com">Manage By Walking Around</a>.</p>
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										<content:encoded><![CDATA[<div class="wp-socializer wpsr-share-icons" data-lg-action="show" data-sm-action="show" data-sm-width="768"><div class="wpsr-si-inner"><div class="socializer sr-popup sr-40px sr-circle sr-opacity sr-pad"><span class="sr-twitter"><a data-id="twitter" style="background-color:#ffffff;" rel="nofollow" href="https://twitter.com/intent/tweet?text=Discover%20Your%20Inner%20Economist%20-%20https%3A%2F%2Fjonathanbecher.com%2F2016%2F06%2F26%2Fdiscover-inner-economist%2F%20@jbecher" target="_blank" title="Tweet this !"><i class="fab fa-twitter"></i></a></span>
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<span class="sr-share-menu"><a href="#" target="_blank" title="More share links" style="background-color:#ffffff;" data-metadata="{&quot;url&quot;:&quot;https:\/\/jonathanbecher.com\/2016\/06\/26\/discover-inner-economist\/&quot;,&quot;title&quot;:&quot;Discover Your Inner Economist&quot;,&quot;excerpt&quot;:&quot;I\u2019ve been meaning to read Tyler Cowen\u2019s Discover Your Inner Economist since it came out a decade&quot;,&quot;image&quot;:&quot;&quot;,&quot;short-url&quot;:&quot;https:\/\/wp.me\/p3QIL2-1yt&quot;,&quot;rss-url&quot;:&quot;https:\/\/jonathanbecher.com\/feed\/&quot;,&quot;comments-section&quot;:&quot;comments&quot;,&quot;raw-url&quot;:&quot;https:\/\/jonathanbecher.com\/2016\/06\/26\/discover-inner-economist\/&quot;,&quot;twitter-username&quot;:&quot;@jbecher&quot;,&quot;fb-app-id&quot;:&quot;&quot;,&quot;fb-app-secret&quot;:&quot;&quot;}"><i class="fa fa-plus"></i></a></span></div></div></div><p><a href="https://i0.wp.com/jonathanbecher.com/wp-content/uploads/2016/06/discover-your-inner-economist.jpg" rel="attachment wp-att-5983"><img data-recalc-dims="1" decoding="async" class="alignright wp-image-5983" src="https://i0.wp.com/jonathanbecher.com/wp-content/uploads/2016/06/discover-your-inner-economist-150x150.jpg?resize=99%2C99&#038;ssl=1" alt="" width="99" height="99" srcset="https://i0.wp.com/jonathanbecher.com/wp-content/uploads/2016/06/discover-your-inner-economist.jpg?resize=150%2C150&amp;ssl=1 150w, https://i0.wp.com/jonathanbecher.com/wp-content/uploads/2016/06/discover-your-inner-economist.jpg?zoom=3&amp;resize=99%2C99&amp;ssl=1 297w" sizes="(max-width: 99px) 100vw, 99px" /></a>I’ve been meaning to read Tyler Cowen’s <a href="http://www.amazon.com/Discover-Your-Inner-Economist-Incentives/dp/0525950257/" target="_blank">Discover Your Inner Economist</a> since it came out a decade ago. Cowen is an economics professor at George Mason University who describes himself as a &#8220;<a href="https://books.google.com/books?id=NaxsePmiMuQC&amp;pg=PT55&amp;lpg=PT55&amp;dq=%22curious+intellectual+nerd+polymath,%22&amp;source=bl&amp;ots=RRqmYJBEK_&amp;sig=fLQoUtOO0Tpulm4Av_m84rPVs-g&amp;hl=en&amp;sa=X&amp;ved=0ahUKEwjo2NiFlbzNAhUXNFIKHS9jBTMQ6AEILTAD#v=onepage&amp;q=%22curious%20intellectual%20nerd%20polymath%2C%22&amp;f=false" target="_blank">curious intellectual nerd polymath</a>.&#8221; He also runs <a href="http://marginalrevolution.com/" target="_blank">marginalrevolution.com</a>, arguably one of the best economics blogs.</p>
<p>While I was intrigued by the subtitle “Use Incentives to Fall in Love, Survive Your Next Meeting, and Motivate Your Dentist,&#8221; I was put off by the mixed reviews. I finally prioritized the book for two reasons:</p>
<ul>
<li>I was looking for fresh advice for how to make corporate meetings more productive.</li>
<li>I have been thinking of turning my own blog into a book and wondered if his book would provide any inspiration.</li>
</ul>
<p>My verdict? Not surprisingly, the subtitle is a form of <a href="https://en.wikipedia.org/wiki/Clickbait" target="_blank">clickbait</a>. The topics are interesting; there are discussions about the impact of incentives; but, in the end, there isn’t that much practical advice. Furthermore, his blogs don’t translate well into book format. As one reviewer said: &#8220;<a href="http://www.amazon.com/Discover-Your-Inner-Economist-Incentives/product-reviews/0452289637?filterByStar=three_star&amp;reviewerType=avp_only_reviews" target="_blank">Sometimes, a bunch of appetizers does not make a meal</a>.&#8221;</p>
<p>His meeting advice exemplifies the limitations of the book. While recommending requiring an agenda ahead of time is reasonable, his suggestion of removing chairs from a meeting room so people will be incented to end the meeting more quickly is more of a gimmick than a sustainable solution. And his big idea is almost laughable: have all participants wear body sensors so they can anonymously signal their boredom. When everyone is bored, the meeting ends.</p>
<p>Nonetheless, reading the book wasn’t a waste of time. Cowen provides some recommendations on resolving the longstanding debate between <a href="http://jonathanbecher.com/2010/08/15/cash-or-non-cash-rewards/" target="_blank">Cash and Non-cash Rewards</a>. He suggests offering monetary rewards when:</p>
<ul>
<li>Intrinsic motivation to accomplish a task is weak, or</li>
<li>Performance is highly responsive to extra effort, or</li>
<li>Receiving money for a task produces social approval.</li>
</ul>
<p>That is good advice. Using those rules, maybe I should have been paid to review the book.</p>
<p>The post <a href="https://jonathanbecher.com/2016/06/26/discover-inner-economist/">Discover Your Inner Economist</a> appeared first on <a href="https://jonathanbecher.com">Manage By Walking Around</a>.</p>
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