Monetary incentives don't work for tasks requiring cognitive skills

An excellent video sent to us from Professor Ricardo Valerdi at MIT's Lean Advancement Initiative about a study at MIT funded by the Federal Reserve about the effectiveness of monetary incentives (preview: monetary incentives don't work for any task requiring basic cognitive function.) The video also discusses what they founddoes work to incentivize people to perform knowledge-based tasks.

Bonus - great white board animation technique in the video!



There is also a TED talk: