The Power of Goal Setting

Fishback demonstrated the power of this with a study using a book another chicago behavior scientist, noble prize winner, richard thaylor. They asked incoming university students to bid on how much they would pay for a signed copy of his famous book. And the average person the was willing to pay something like 12 dollars. Just putting the same exact book in a toat bag caused people to cut what they were willing to pay for it in half. It demonstrated our point that people are willing to pay a lot for a book, but not for the thing that well carry that book. This simple idea in goal setting can change your motivation to get it done all the way through.