A Quote by Steven Levitt
Experts are human, and humans respond to incentives. How any given expert treats you, therefore, will depend on how that expert's incentives are set up.
Related Quotes
All human interaction, you can break it down to incentives. All relationships, at some level, are transactional. They're fascinated with incentives.
There are many experts on how things have been done up to now. If you think something could use a little improvement, you are the expert.
To become an academic expert takes years of studying. Academic experts are experts in how and what others have done. They use case studies and observation to understand a subject.
The vital consideration of incentives is almost systematically overlooked in the proposals of agitators for more and bigger government welfare schemes. We should all be concerned about the plight of the poor and unfortunate. But the hard two-part question that any plan for relieving poverty must answer is: How can we mitigate the penalties of failure and misfortune without undermining the incentives to effort and success.
Experts have their expert fun ex cathedra telling one just how nothing can be done.
One of these days when I'm finished coaching at Alabama, I'll write an authorized book because there's only one expert on my life, and guess who that is... me. And there won't be any misinformation. There won't be any false statements. There won't be any hearsay. There won't be any expert analysis from anybody else. It will be the real deal.
while the executive should give every possible value to the information of the specialist, no executive should abdicate thinking on any subject because of the expert. The expert's information or opinion should not be allowed automatically to become a decision. On the other hand, full recognition should be given to the part the expert plays in decision making.
I'm an expert in hookers. I'm an expert in doormats. I'm an expert in victims. They were the best parts. And when I woke up--sociologically, politically, and creatively--I could no longer take those parts and look in the mirror.
Doubts are suppressed by groups... But remember that the internal incentives that shape how the group perceives risks and rewards may be very different from the reality of the risks and rewards in the external marketplace. Those incentives can distort risk perception.
There is a sense in which, like, it could be the case that the incentives of running for president and the incentives of getting maximum attention for yourself, sometimes align, and at a certain point, they stop aligning, and you just keep going with the incentives for maximum attention for yourself.
If history judges society for how it treats those in need, so markets judge economies by the incentives they provide for private investment, the infrastructure that supports growth, and the burdens placed on job creation.
Positive market incentives operating in the public interest are too few and far between, and are also up against a seemingly never-ending expansion of perverse incentives and lobbying.
The three most effective incentives to human action may be ... classified as creed, greed and dread. ... In examining the scientist it is perhaps worth while to examine how far he is moved by these three incentives. I think that, rather peculiarly and rather exceptionally, he is very little moved by dread. ... He is in fact essentially a person who has been taught he must be fearless in his dealing with facts.
The media tends to report rumors, speculations, and projections as facts... How does the media do this? By quoting some 'expert'... you can always find some expert who will say something hopelessly hopeless about anything.
A winner knows how much he still has to learn, even when he is considered an expert by others; a loser wants to be considered an expert by others before he has learned enough to know how little he knows.
Robots equipped with software can be designed to do repetitive jobs. All that you need in a factory is a set of dials, an expert, and a dog to keep the expert awake. We will be moving shortly to the next stage to robots with artificial intelligence who can "think."
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