Raising kids on guilt, bribery, and game theory
Filed under: Kids and Money
I've been reading a lot about ethics lately and have been interested to see how game theory (think A Beautiful Mind and little tic-tac-toe grids with choices for each of the 'players' as column and row headings) affects our choices as parents. It turns out that ethics are taught at home, not at business school (makes you wonder about the early childhood of the CEOs of our favorite financial institutions, don't it?).When I read today's "Motherlode" column about parenting with bribes, I was, frankly, amazed. Lisa Belkin points us to a story on the New York Moms blog about a lovely little bit of game theory as exercised by a parent who was done with sibling rivalry. A child would get fifty cents at the end of the day if he was better-behaved than his sibling; but if both were perfect, they would each get a dollar (I've illustrated this in game theory-ese, to the right).
According to Amy, her children (four and seven years old) chose the mutually beneficial outcome, even though psychological experiments with young adults typically show that competitive behavior will often void the mutually beneficial outcome. Amy set up what may be a perfect (if minorly expensive at $2 a day) game - the word for a set of choices and outcomes - proving that her children are, indeed, rational.
I've bribed my children very occasionally with mixed results; my best outcomes were with paying my oldest son, who's six, to "babysit" his little brothers while I took a shower, a nap, or worked out in the garden. Have you paid for good behavior? Has it worked?
If you build it, they will come. But not necessarily.
Yesterday on talk radio, a host was discussing the concept of "
After reading my "Kitty Couture" column this week, BloggingStocks producer Amey Stone asked that I write more about what parents can do to encourage healthy character formation in their children. It's a wonderful question that we don't often articulate. It's right at the center of what good parents are doing. Thank you for asking, Amey. It got me thinking.
BusinessWeek's Karyn McCormack 