Tag Archives: Richard Thaler

How to Nudge a Performance Based Contract (PBC) – Part 2

Posted on Sat 24 Aug 2019 by Andrew Jacopino

In the previous article (see How to Nudge a Performance Based Contract (PBC) – Part 1) I described how successful contracts deliver the desired outcomes of both buyers and sellers; the classic “win-win” outcome that we all strive for.  We … Continue reading →

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How to Nudge a Performance Based Contract (PBC) – Part 1

Posted on Sat 10 Aug 2019 by Andrew Jacopino

Commercial instruments, especially sophisticated ones such as Performance Based Contracts (PBCs), have the ability to shape the behaviour of both buyer and seller.  While many commercial practitioners see contracts in their simplest form, an explicit and directive agreement between buyer … Continue reading →

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Carrot and Stick (Part 1)

Posted on Fri 17 Jul 2015 by Andrew Jacopino

I am currently reading Richard Thaler’s new book, “Misbehaving – The making of Behavioural Economics” which has again brought up an interesting and long running debate on the application of positive incentives (gains or “carrots”) or negative incentives (losses or … Continue reading →

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Nudging Performance

Posted on Tue 24 Feb 2015 by Andrew Jacopino

For those that found my previous post that compared PBCs with the notion of nudging interesting I would highly recommend you read this insightful question and answer (Q&A) session with Richard Thaler, co-author of the book Nudge: Improving Decisions About Health, … Continue reading →

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Is Your Contract Fun?

Posted on Sat 21 Feb 2015 by Andrew Jacopino

Katherine Milkman, an associate professor at Wharton, University of Pennsylvania, starts her behavioural economics class with the following video. . Having watched this you may be wondering what this has to do with PBC? Let me explain. If you agree … Continue reading →

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