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Tim FerrissMaster Economist on Strategic Quitting and Valuable Decisions on the Margin — John List
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EPISODE INFO
- Released
- January 27, 2022
- Duration
- 2h 14m
- Channel
- Tim Ferriss
- Watch on YouTube
- ▶ Open ↗
EPISODE DESCRIPTION
Brought to you by AG1 all-in-one nutritional supplement http://drinkag1.com/tim John List — A Master Economist on Increasing Tipping, Strategic Quitting, Maximizing Charitable Fundraising, Baseball Cards, Theory of Mind, and Valuable Decisions on the Margin Show notes: https://tim.blog/2022/01/26/john-list/ Intro [00:00] What is a clawback incentive? Other effective incentives [00:14] A deeper dive on incentives and rewards [08:01] The science of charitable giving and tipping (particularly with ridesharing) [15:18] Why John chose Uber over Amazon [28:06] Customer service and the power of apologies [35:44] What John learned about human nature [43:49] John’s thoughts on critical thinking hierarchy and theory of mind [48:51] How does someone develop theory of mind as an applicable skill? [55:15] Winning a poker tournament in Australia [59:53] What prompted John to write The Voltage Effect: How to Make Good Ideas Great and Great Ideas Scale? [1:02:48] The replication and credibility crises in science [1:08:08] The vital signs that determine scalability [1:12:13] On failing to understand spillovers while scaling[1:20:48] Why did John have such a slow start entering the job market after getting his PhD? [1:29:26] Is there any application for fractal mathematics to economics? [1:34:31] Scalable incentives, marginal thinking, optimal quitting, and building culture [1:38:20] Why is StubHub one of John’s favorite apps? [2:00:16] Thoughts on blockchain as a rich source of data for behavioral economists [2:01:17] How to approach Adam Smith’s The Wealth of Nations? [2:05:48] Parting thoughts. [2:10:14] SUBSCRIBE: http://bit.ly/1dSzTkW LINK TO ALL SHOW TRANSCRIPTS: https://tim.blog/2018/09/20/all-transcripts-from-the-tim-ferriss-show/ About Tim Ferriss: Tim Ferriss is one of Fast Company’s “Most Innovative Business People” and an early-stage tech investor/advisor in Uber, Facebook, Twitter, Shopify, Duolingo, Alibaba, and 50+ other companies. He is also the author of five #1 New York Times and Wall Street Journal bestsellers: The 4-Hour Workweek, The 4-Hour Body, The 4-Hour Chef, Tools of Titans and Tribe of Mentors. The Observer and other media have named him “the Oprah of audio” due to the influence of his podcast, The Tim Ferriss Show, which has exceeded 500 million downloads and been selected for “Best of Apple Podcasts” three years running. Connect with Tim Ferriss: Sign up for "5-Bullet Friday" (Tim's free weekly email newsletter): https://go.tim.blog/5-bullet-friday-yt/ Visit the Tim Ferriss PODCAST: https://tim.blog/podcast/ Visit the Tim Ferriss BLOG: https://tim.blog/ Follow Tim Ferriss on TWITTER: https://twitter.com/tferriss/ Follow Tim Ferriss on INSTAGRAM: https://www.instagram.com/timferriss/ Like Tim Ferriss on FACEBOOK: https://www.facebook.com/TimFerriss/
SPEAKERS
Tim Ferriss
hostEntrepreneur, author, and podcast host of The Tim Ferriss Show.
John List
guestEconomist and Chief Economist at Lyft, known for field experiments and behavioral economics research.
EPISODE SUMMARY
In this episode of Tim Ferriss, featuring Tim Ferriss and John List, Master Economist on Strategic Quitting and Valuable Decisions on the Margin — John List explores John List on incentives, tipping experiments, and scaling ideas without losing impact John List explains clawback incentives—giving rewards upfront and taking them back if goals aren’t met—and says they reliably increase effort across settings from factories to classrooms to parenting.
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