Quotes About Efficiency

For every clever person who goes to the trouble of creating an incentive scheme, there is an army of people, clever and otherwise, who will inevitably spend even more time trying to beat it. Cheating may or may not be human nature, but it is certainly a prominent feature in just about every human endeavor. Cheating is a primordial economic act: getting more for less.

first is about problem solving generally. Kobayashi redefined the problem he was trying to solve. What question were his competitors asking? It was essentially: How do I eat more hot dogs? Kobayashi asked a different question: How do I make hot dogs easier

Por cada persona inteligente que se molesta en crear un esquema de incentivos, existe un ejército de gente, inteligente o no, que inevitablemente invertirá incluso más tiempo en tratar de burlarlos.

If almost all letters have stamps, then the benefit of checking each one with 100 percent accuracy is infinitesimal, so it makes sense to let some unstamped letters through.

Incentivize them on the dimensions that are valuable to them but cheap for you to provide.

For every clever person who goes to the trouble of creating an incentive scheme, there is an army of people, clever and otherwise, who will inevitably spend even more time trying to beat it.

The chief merit of the price system is that it makes effective use of information that is not available to any single decision maker. When the price system is overridden, information is discarded. When information is discarded, resources are misallocated. When resources are misallocated, prosperity suffers. If you're trying to make people prosperous, relying on prices is your best strategy.

To ensure that there is minimal duplication of effort and for regional product managers to align effectively with the enterprise, a corporate product and portfolio management function is necessary.

How do you minimize product duplication?" or "How do you rationalize product investments on a global basis?

We had to keep explaining things, backtracking and filling gaps. We realised our own conversations had evolved into a kind of shorthand, a tidy, neat little minimalism. Covering the whole canvas in broad obvious brushstrokes for outsiders felt like a waste of sounds, time and effort. Speaking with footnotes .

If you worked for an hour at the average wage of 1800, you could buy yourself ten minutes of artificial light. With kerosene in 1880, the same hour of work would give you three hours of reading at night. Today, you can buy three hundred days of artificial light with an hour of wages. Something extraordinary obviously happened between the days of tallow candles or kerosene lamps and today's illuminated wonderland. That something was the electric lightbulb.

If ideas were fully liberated, then entrepreneurs wouldn't be able to profit from their innovations, because their competitors would immediately adopt them. And so where innovation is concerned, we have deliberately built inefficient markets: environments that protect copyrights and patents and trade secrets and a thousand other barricades we've erected to keep promising ideas out of the minds of others.

whether cities or bodies—find productive uses for the waste they create.

imagine a business problem as a maze. One person might be motivated to make it through the maze as quickly and safely as possible in order to get a tangible reward, such as money—the same way a mouse would rush through for a piece of cheese. This person would look for the simplest, most straightforward path and then take it. In fact, if he is in a real rush to get that reward, he might just take the most beaten path and solve the problem exactly as it has been solved before.

Part of that magic is economic: emergent platforms can dramatically reduce the costs of creation.

Applying this idea in our daily life means breaking tasks into bite-size chunks and setting goals accordingly. A writer, for example, is better off trying to pen three great paragraphs at a time—the equivalent of moving through Mandy-Rae's kick cycles—rather than attempting one great chapter. Think challenging, yet manageable—just enough stimulation to shortcut attention into the now, not enough stress to pull you back out again.

Not only is the distracted present a miserable place to be, it's also the worst kind of self-handicapping. Study after study shows that we're terrible multitaskers. By trying to improve performance by being everywhere and everywhen, we end up nowhere and never. The sad truth is that our lives are pulling us in every direction save the one where we're most effective.

This means flow packs a double punch: it doesn't just increase our decision-making abilities—it increases our creative decision-making abilities. Dramatically.

The conscious mind is a potent tool, but it's slow, and can manage only a small amount of information at once. The subconscious, meanwhile, is far more efficient. It can process more data in much shorter time frames. In ecstasis, the conscious mind takes a break, and the subconscious takes over.

By using the tanks to eliminate all distraction, entrain specific brainwaves, and regulate heart rate frequency, the SEALs are able to cut the time it takes to learn a foreign language from six months to six weeks.

smarter people tend to think more like economists

Gratuitous redundancy makes prose difficult not just because readers have to duplicate the effort of figuring something out, but because they naturally assume that when a writer says two things she means two things, and fruitlessly search for the nonexistent second point.

The problem with thoughtless signposting is that the reader has to put more work into understanding the signposts than she saves in seeing what they point to

Given the costs of information, the perfect can be the enemy of good.