Steven D. Levitt Quote
When it comes to financial incentives, size matters. There are things that people will do for a lot of money that they’d never do for just a few dollars. The most devoted carnivore in the world might well go vegan if the tofu lobby offered him a $10 million stipend. And then there’s the tale of an economist on holiday in Las Vegas. He found himself one night in a bar standing beside a gorgeous woman. Would you be willing to sleep with me for $1 million? he asked her. She looked him over. There wasn’t much to see—but still, $1 million! She agreed to go back to his room. All right then, he said. Would you be willing to sleep with me for $100? A hundred dollars! she shot back. What do you think I am, a prostitute? We’ve already established that. Now we’re just negotiating the price.
When it comes to financial incentives, size matters. There are things that people will do for a lot of money that they’d never do for just a few dollars. The most devoted carnivore in the world might well go vegan if the tofu lobby offered him a $10 million stipend. And then there’s the tale of an economist on holiday in Las Vegas. He found himself one night in a bar standing beside a gorgeous woman. Would you be willing to sleep with me for $1 million? he asked her. She looked him over. There wasn’t much to see—but still, $1 million! She agreed to go back to his room. All right then, he said. Would you be willing to sleep with me for $100? A hundred dollars! she shot back. What do you think I am, a prostitute? We’ve already established that. Now we’re just negotiating the price.
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