Friday, May 1, 2020
Incentive Lecture - Agnes Cancio
In this lecture, I thought that the “Losses Loom Larger Than Gains” was very relatable. As I saw the slide, I began to think that it really is true. The incentive loss feels and is greater than the value of a gain. It was also interesting to see how this connected with the Loss/Gain and Seller/Buyer Behavior. I agree that the more valuable incentives are connected to the descriptions of more, bigger, and better, while the less valuable ones are described as less, smaller and worse. I also agree that as the incentive value increases, your motivation increases. If you were paid $5 to read a book you hate, there is a less chance you would read it. However, if the price was changed to $30, it would probably be a higher chance you read the book.