Charlie Munger on Incentives

Trying to solve a problem that involves human behavior? Take a few minutes and read this interview with Charlie Munger, the Vice-Chairman of Berkshire Hathaway (among many other roles). Through his research and experiences with businesses and workers of all forms, he’s come to recognize the importance of incentives. While the focus of this interview was on the psychology of misjudgment (especially in financial matters), it provides many lessons for marketers, managers, and analysts.