Extrinsic incentives bias is a cognitive bias that occurs when external rewards influence an individual's decision-making process. This bias can lead to people favoring short-term rewards over long-term goals, and can result in undesirable outcomes. The bias is often found in situations where a decision-maker has to choose between two options, both of which are beneficial, but one of which may result in an immediate or easier-to-obtain reward. This bias can be further reinforced by the presence of peers or authority figures. One of the key aspects of extrinsic incentives bias is that it can lead to individuals making decisions that are not in their best interests. For example, a student may choose to study for a test in order to get a good grade rather than because they think learning the material is important. This type of bias can also be seen in the workplace, where employees may prioritize tasks that will result in immediate rewards, rather than those that are more important in the long-term. Extrinsic incentives bias can also be influenced by the type of reward being offered. Monetary rewards, for example, can be particularly powerful in influencing decision-making. However, non-monetary rewards, such as praise or recognition, can also be effective in reinforcing this bias. It is important to note that extrinsic incentives bias is not always negative. In some cases, external rewards can be used to motivate individuals to achieve their goals. However, it is important to be aware of the potential negative effects of this bias and to take steps to mitigate them.
cognitive bias, decision-making, short-term rewards, long-term goals, peers, authority figures, workplace, monetary rewards, non-monetary rewards, motivation
Extrinsic incentives bias is a type of cognitive bias that occurs when people choose to do something because of an external reward, such as money, rather than because they think it is the right thing to do. For example, a student may choose to study for a test in order to get a good grade rather than because they think learning the material is important. This type of bias can lead to people making decisions that are not in their best interests.
Extrinsic motivation, reward, external reward, incentivize, materialistic.
Extrinsic Incentives Bias is a cognitive bias that occurs when an individual's decision-making is influenced by external rewards. This bias can lead to individuals favoring short-term rewards over long-term goals, and can lead to undesirable outcomes. The bias is often found in situations where a decision-maker has to choose between two options which are both beneficial, but one of the options might result in a reward that is immediate or easier to obtain. This bias can be further reinforced by the presence of peers or authority figures. For example, if a worker receives an immediate reward for completing a certain task, they may be more likely to complete the task quickly, but may not take into account the long-term consequences of their actions.
Extrinsic motivation, reward bias, reward system, reward-based decisions.
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