This chapter delves into the relationship between economics and psychology, questioning whether economists should study psychology more. It discusses the use of incentives in education, particularly in paying students for academic performance, and examines the impact of introducing external rewards on intrinsic motivations. The conversation also covers evolving preferences in media consumption, the importance of being critical in choosing books and movies, and the effectiveness of learning through open-ended problems for deep understanding.
Tyler Cowen, of George Mason University, talks about his new book, Discover Your Inner Economist: Use Incentives to Fall in Love, Survive Your Next Meeting, and Motivate Your Dentist. Cowen, legendary blogger at MarginalRevolution.com, talks with EconTalk host Russ Roberts about the economics of parenting, reading, dentistry, art museums and education. Highlights include Tyler's favorite art museum and what to see there along with the challenges of being a tourist in Morocco.