Commerce 

Economics experiments – using incentives to change behaviour

In our Year 11 Economics class, we are all excited about our behavioural economics experiments. It has been really interesting to explore how people's behaviour can be influenced by different factors. Some of our groups decided to test out some creative ideas.

 One group set up an experiment in the hallway, placing a strip of tape right down the middle. They wanted to see if this simple cue would affect how students walked in the hallway. Surprisingly, their results showed that students tended to stay on their own side! It was fascinating to see how such a small environmental cue could shape our behaviour and make us adhere to social norms.

 Another group took a different approach. They wanted to encourage Year 7 students to bring their diaries to class more often. To do this, they conducted a survey and kept track of how many students brought their diaries. But they didn't stop there – they decided to add an incentive to see if it would make a difference. They offered lollies as rewards for bringing their diaries. And guess what? 

The results were amazing! More Year 7s started bringing their diaries to class, all thanks to the sweet incentive.

It has been a fantastic learning experience for all of us. We are gaining insights into human behaviour and how incentives and environmental cues can shape our decisions. These experiments have shown us first-hand how small changes can have a big impact.

By Aaron, Omkar and Jaz