Jan 26, 2021
Learn what Charlie Munger really meant when he said, “show me the incentive(s) and I’ll show you the outcome.” This episode brings together ideas about incentives from Warren Buffett, Charlie Munger’s 1995 Harvard University lecture “The Psychology of Human Misjudgment,” FedEx, Xerox, the New Orleans Saints “Bountygate” scandal and more. You will not only learn how to use the power of incentives to improve your own outcomes, but also how to avoid the danger of perverse incentive systems.