Jean Tirole and Intrinsic and Extrinsic Motiviation:
For example, if I tell my son. “If you get an A in math, I will give you $1000.” What does my son conclude?
My father must think math is very important for my future to offer me $1000. My father is smart. I will work hard.
This is the message that I hope to send. But my son knows that I know something about math and also that I know something about him and he may use this knowledge to make a very different inference.
If my father thinks I need $1000 to get an A, math must be very hard or I must lack talent. I will work for an A this year but next year I should probably not sign up for advanced math classes.
Or perhaps he infers
If my father is offering me $1000 to do the right thing , he must not trust my judgment.
Or perhaps
My father is trying to use his money to control me. I rebel!
Thus reward has two effects a pure incentive effect (holding information constant) and an inference effect. Notice that the inference effect depends on the context. Thus, without knowing the context–how the father gets along with the son and their history of interaction–we can’t know what the effect of the “incentive” will be. Thus I have argued that “an incentive is not an objective fact but a subjective interpretation.”
- See more at: http://marginalrevolution.com/marginalrevolution/2014/10/jean-tirole-and-intrinsic-and-extrinsic-motiviation.html#sthash.GqTn736M.dpuf
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