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Showing posts from February, 2011

Freakonomics!

So, I got this awesome job with a news channel. I joined and started out with an average performance. But within a month, my performance skyrocketed. I became a favorite at the office and my ideas began to revolutionize the channel.
What happened?

Freakonomics happened.

While I was still a fresher, a trainee in the corporate world, I was given some time to observe the workings of the office. Lot of free time, to kill which, a friend gave me this book. What was in this book? “Incentives” she said. That’s it.
Must be some high end economics book, but something’s better than nothing, so I set out to read it.

It was awesome! Out of the box application of economic principles focused on one assumption- people react to incentives, positively or negatively. You can solve any question, yup, ANY question using a correctly created algorithm and finding the correct data. That’s what the book tries to say. People don’t react to incentives in a predicable manner, there might be very different reasons be…