TITLE:
On the Wondrous Behaviour of Rats and Researchers
AUTHORS:
Antonio Villar
KEYWORDS:
Effort, Costly Task, Reward, Behavioural Patterns
JOURNAL NAME:
Modern Economy,
Vol.11 No.1,
January
8,
2020
ABSTRACT: This paper deals with the connection between effort
and rewards, regarding the optimal behaviour of the agents involved. The
context is that in which a subject is required to perform a costly task and is
rewarded with a prize when the task is performed properly. We provide here a
simple model that explains why reducing the reward associated with a costly
task may induce a higher effort. This is an experimental observation of the behaviour
of rats in the lab, but it also appears in other mammals (e.g. researchers).