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Interesting article on behavioural economics and day to day life

December 14, 2014

“For example, people hate losing things more than they like getting things, a phenomenon known as loss aversion. In some schools, teachers were offered a bonus at the end of their year if they could improve student performance. This kind of merit pay didn’t improve test scores. But, in other schools, teachers were given a bonus at the beginning of the year, which would effectively be taken away if their students didn’t improve. This loss-framed bonus had a big effect.”

http://www.nytimes.com/2014/12/12/opinion/david-brooks-in-praise-of-small-miracles.html?smid=tw-share&_r=0

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