Planning for Attention
This article is part of a series of articles from the WARC Guide to Planning for Attention. Read more.
Charlie Munger, investor and vice chairman of Berkshire Hathaway, famously said, “Show me the incentives and I’ll show you the outcomes.”
Incentives for buyers and sellers are generally set up by metrics that define volume and quality of goods in a market. Sellers optimize to the volume of a good that meets the threshold for quality. Buyers, or their agents, try to purchase them as cheaply as possible. This works pretty well as long as the...