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Vital Signs: the power of not being too clear

  • Written by Richard Holden, Professor of Economics, UNSW
Vital Signs: the power of not being too clearSpecify what you want, and that might be all you'll get, whereas if you are vague...Shutterstock

Incentives, in one form or other, are central to our lives.

The Soviet experiment ended in December 1991 because it turned out that when people got paid the same whether they worked hard or slacked off, most people slacked off.

People often work...

Read more: Vital Signs: the power of not being too clear

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