Quotes & Sayings About Rewards And Incentives

Pay-for-procedure or fee-for-service reimbursement rewards doctors and hospitals for volume - not keeping patients healthy or being efficiency. Pay-for-Performance is clearly one tool that can change the incentives to reward quality. — Ron Wyden

Most problems, decisions, and performances are multidimensional, but somehow the results have to be reduced to a few key indicators which are to be institutionally rewarded or penalized ... The need to reduce the indicators to a manageable few is based not only on the need to conserve the time (and sanity) of those who assign rewards and penalties, but also to provide those subject to these incentives with some objective indication of what their performance is expected to be and how it will be judged ... key indicators can never tell the whole story. — Thomas Sowell

Economic growth springs not chiefly from incentives - carrots and sticks, rewards and punishments for workers and entrepreneurs. The incentive theory of capitalism allows its critics to depict it as an inhumane scheme of clever manipulation of human needs and hungers scarcely superior to the more benign forms of slavery. Wealth actually springs from the expansion of information and learning, profits and creativity that enhance the human qualities of its beneficiaries as it enriches them. Workers' learning increasingly compensates for their labor, which imparts knowledge as it extracts work. Joining knowledge and power, capitalism focuses on the entropy of human minds and the benefits of freedom. Thus it is the most humane of all economic systems. — George Gilder

It is a libel to suggest that children need rewards for attending to tasks, apart from intrinsic interest and satisfaction. Children work very hard in their purposeful endeavors in the world, when they have ends they want to accomplish themselves. It is meaningless teaching, not learning, that demands irrelevant incentives. — Frank Smith

It is human nature to be shortsighted and to lose momentum to make changes once the story is out of the headlines and there aren't financial incentives or political rewards. We owe to ourselves to learn from the past so we can try to do better. — Sheri Fink

When you teach, you need to give the students incentives by grades or by other factors. I went to the Bible to find that topic in Scripture. I was shocked that after college and graduate school I had no idea that Jesus Christ had talked so much about rewards. — Bruce Wilkinson

I disagree with the followers of Marx and those of Adam Smith: the reason free markets work is because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or "incentives" for skill. — Nassim Nicholas Taleb

The strategy for the discoverers and entrepreneurs is to rely less on top-down planning and focus on maximum tinkering and recognizing opportunities when they present themselves. So I disagree with the followers of Marx and those of Adam Smith: the reason free markets work is because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or "incentives" for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can. — Nassim Nicholas Taleb

A different set of incentives from rising in an economic establishment where the rewards system, again, the reinforcement, comes from being a truffle hound. That's what Jacob Viner, the great economist called it: the truffle hound - an animal so bred and trained for one narrow purpose that he wasn't much good at anything else, and that is the reward system in a lot of academic departments. — Charlie Munger

Whether it means prizing the value of lessons learned, building games into your creative process, or getting gifts upon certain milestones of achievement, self-derived rewards make a big difference ... You cannot ignore or completely escape the deeply ingrained short-term reward system within you. But you can become aware of what really motivates you and then tweak your incentives to sustain your long-term pursuits. — Scott Belsky

The basic idea that incentives can be used to motivate behavior is a powerful one. It works for employees, and it has a clear place in parenting, as anyone who has tried to potty-train a recalcitrant toddler with sticker rewards knows. — Emily Oster

Doubts are suppressed by groups ... But remember that the internal incentives that shape how the group perceives risks and rewards may be very different from the reality of the risks and rewards in the external marketplace. Those incentives can distort risk perception. — Daniel Kahneman

Incentives are spurs that goad a man to do what he doesn't particularly like, to get something he does particularly want. They are rewards he voluntarily strives for. — Paul G. Hoffman

End perverse incentives that reward Wall Street speculators. — Ralph Nader