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#609 - Uri Gneezy - How To Understand Psychological Incentives
Modern Wisdom
The Mixed Signal of Investing in the Long Run
Think about politicians. They know what's the right thing to do, they just don't know how to get elected with it. Think about a CEO that the board tells them, look, we care about the long run. But then judge the CEO based on the quarterly earnings,. What is the CEO going to do? Imagine that the computer system, whatever, the network really needs upgrading. The next two quarters are going to look really bad in terms of profits. And that CEO will probably be fired or be, will not get the bonus or whatever. Right. So we tell them, we tell the people that work for us, like the governor or the CEO that, 'We really want
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