MAXIMISING THE ROI ON REWARDS IS A SCIENCE THAT FEW UNDERSTAND Dan Ariely a behavioural economist from Duke University is one of many who have studied at length the impact of rewards on consumer behaviour. Like most of researchers he found that the relationship between reward and behaviour is complex. He found among anything that […]

MAXIMISING THE ROI ON REWARDS IS A SCIENCE THAT FEW UNDERSTAND Dan Ariely a behavioural economist from Duke University is one of many who have studied at length the impact of rewards on consumer behaviour. Like most of researchers he found that the relationship between reward and behaviour is complex. He found among anything that if you offer a child on chocolate now or two in an hour, the vast majority will opt for one chocolate now. Other studies with adult samples have led to similar findings, as follows: Immediate rewards are preferred to longer term rewards, even where the latter is greater. To have appeal long term rewards have to be substantially greater than short term rewards. Other research by Professor Ariely found that money was not the powerful reward it is often thought to be in the workplace. He found, as have others since that: Extrinsic rewards are…