Russell: I don't want anybody to think I'm such an econ nut that my wife and I run our house. Like some sort of a business. That is one thing that I avoid like the plague is any payment, like even allowances. He says he doesn't want to micromanage his kids with any kind of cash payments. Russell: We have a natural urge to take the behavior that we have in the family setting and extend it to the larger order.
Don Cox of Boston College talks with Russ Roberts about how creating incentives can ease daily life with toddlers and young children.