https://andresruizc.github.io/andresr/tags/incentives/ Recent content in Incentives on Andres Blog Hugo -- gohugo.io en-us Mon, 01 Jan 2024 04:00:00 +0100 https://andresruizc.github.io/andresr/posts/the-power-of-incentives/ Mon, 01 Jan 2024 04:00:00 +0100 https://andresruizc.github.io/andresr/posts/the-power-of-incentives/ Picture this: It’s the 19th century, and the British government has a problem. They’re shipping prisoners to Australia, but only 40% are surviving the journey. Humanitarian groups propose improvements, the government tries various solutions, but nothing works. The survival rate remains stubbornly at 40%. Enter Edwin Chadwick, a visionary economist with a different perspective. He realizes the problem isn’t the voyage conditions - it’s the crew’s behavior. Why? Because captains were paid for each prisoner shipped from England.