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Carrots and Sticks
Book

Carrots and Sticks

Unlock the Power of Incentives to Get Things Done

Ian Ayres
Bantam, 2010

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Editorial Rating

7

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Recommendation

Have you been making the same resolutions over and over – about losing weight or stopping smoking – without success? If so, a “commitment contract” can help. In his entertaining new book, lawyer, economist and author Ian Ayres shows how pledging yourself to a reward (a “carrot”) or a punishment (a “stick”) can be a forceful motivator. Ayres describes commitment contracts in a conversational, anecdotal style. getAstract recommends this book to anyone interested in human behavior. It can help you reach that elusive personal or professional goal – if you’re ready to put your money where your mouth is.

Take-Aways

  • Unfortunately, people don’t fulfill their resolutions or achieve most goals.
  • A behavior called “hyperbolic discounting” encourages you to succumb to immediate gratification rather than focus on a future payoff or reward.
  • A “commitment contract” can improve your success rate in reaching your personal and professional goals.

About the Author

Lawyer, economist and author Ian Ayres wrote Super Crunchers: Why Thinking-By-Numbers is the New Way to Be Smart. He is the William K. Townsend Professor of Law at Yale University.

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