 So when you're talking about giving an incentive, it's very important to make people understand why they're receiving their incentive for. So one thing is they should understand the rules, but also they should understand the inherent motivation behind it. So the details are very important. So the main economic approach to behavior is to believe that it does, that incentives are the way to try to make people do things. That's the way we think as economists we always think people behave like that. You give them an incentive, they behave like that. However, there's a lot of research in psychology that says that when you're giving somebody an incentive, actually you're not only changing, you're not only incentivizing a behavior in a way, but you're also providing different motivations for it. For example, quitting smoking. Would you pay money for people not to smoke? Will that work? So there are two questions here. One is, does it work, the fact that you're giving a monetary incentive, for example, for people? And second, even if it works, does it change the original motivation you're doing the behavior for? And therefore, once you take away the incentive, once you have changed that original motivation, then you cannot come back, then maybe you cannot come back to the original motivation. So is there a crowding out effect? Okay, you're changing the motivation, now you don't have the incentive anymore, you do other things. So there's a whole discussion of how careful as economists we should be in giving incentives. We think they can influence, and in fact if we think about incentives it's because we believe they influence behavior, but we should be careful because there can be direct effects, but they can also be indirect effects. And the second problem is incentives, another thing we learn as economists all the time is that resources are scarce. So you may be able to provide incentives for people to do some kind of behavior, but you may not be able to provide an incentive forever, so at some stage you're going to have to take them away, and what is it going to happen? Once you have changed the original motivation, are people going to still behave as they did in the past, or are they going to change what they're doing? For example, in my home country in Spain we had this problem, they give you to public servants in order to get them to do some work, they say they are giving them productivity measures, they are giving them bonuses, but at the end they are not bonuses because everybody gets them, and they know they're going to get them, so they basically don't change behavior. So the first message is if you call it an incentive it is because it's contingent on something, you only get it if you do something, it motivates you to do something. However, you should not forget that the moment you are giving that, you know, you're saying, if you reach this goal you're going to get some incentive, you are changing the original motivation when somebody did something, so that can change other things, and that's why you have to be careful. But the main message is incentives have to be contingent. But incentives always have to be with money? That depends on your view of the world. Again, economists, we used to be very narrow-minded and we used to think money is everything, right? It's easy, it's one thing that it's accountable, that we all care for because we can buy other things with it, but actually behavioral research in the last 20 years has been showing that people care about many other things, right? So incentives, do they need to be money? No, not at all. They could be, you know, if you're thinking about kids, they could be great at school, they could be as we talked before, it could be equality. People care about equality, so maybe as we were saying, you may not need to pay them more money as long as you give them something they care about, which is a nice environment in the firm, right? Or a place where people, a nice job where you feel actually like it's nice to go to work on. You may work much better in a nice environment, even if you're paid less, than in a place where they are paying you more, but the environment is horrible. So people of course care about other things. The key about an incentive is that it has to be something people care about. That's an incentive. That doesn't mean that an incentive is money. No, it's something people care about. And all you have to think about is what do people really care about, what's really going to motivate them, what's going to change their behavior. And with that, then you design your incentive. But first you have to do your research to try to see, okay, in my organization, what do people really care about? That's the key.