Students, and faculty, generally have good intentions when planning to work toward long-run objectives. It’s always easier, though, to start those projects tomorrow instead of today. In this episode, Dr. Dean Karlan joins us to discuss how commitment devices may be used to align our short-term incentives with our long-run goals.
Dean is a Professor of Economics and Finance at Northwestern University, Co-Director of the Global Poverty Research Lab at the Kellogg School of Management, President and Founder of Innovations for Poverty Action, co-founder of Stickk.com and Impact Matters, and a member of the Executive Committee of the Board of Directors at the Abdul Latif Jameel Poverty Action Lab at the Massachusetts Institute of Technology. Dean is the author of many scholarly articles and several books related to economics, including my favorite introductory economics textbook.
- Dean Karlan
- Innovations for Poverty Action
- Impact Matters
- Global Policy Research Lab – at the Kellogg School of Management at Northwestern
- Abdul Latif Jameel Poverty Action Lab
- Karlan, Dean and Jonathan Morduch (2018). Economics. McGraw-Hill.
- Giné, X., Karlan, D., & Zinman, J. (2010). Put your money where your butt is: a commitment contract for smoking cessation. American Economic Journal: Applied Economics, 2(4), 213-35.
- McGuire, S. Y. (2015). Teach students how to learn: Strategies you can incorporate into any course to improve student metacognition, study skills, and motivation. Stylus Publishing, LLC.
- Momentum – the app for targeted giving that Dean mentioned
- The following study, referenced in the podcast, examines the problem of suboptimal fertilizer use of fertilizer in Kenya. Both were just cited in the Nobel statement on the 2019 award to Abhijit Bannerjee, Esther Dulfo, and Michael Kremer. Bannerjee, Duflo, and Kremer were Dean’s professors at MIT. Bannerjee and Duflo were on this thesis committee. (The Nobel announcement came after the podcast was recorded but two days before its release.)
- Duflo, E., Kremer, M., & Robinson, J. (2011). Nudging farmers to use fertilizer: Theory and experimental evidence from Kenya. American Economic Review, 101(6), 2350-90.
- Artz, Benjamin and Johnson, Marianne and Robson, Denise and Taengnoi, Sarinda, Note-Taking in the Digital Age: Evidence from Classroom Random Control Trials (September 13, 2017) – the study about note-taking that John mentioned.
John: Students, and faculty, generally have good intentions when planning to work
toward long-run objectives. It’s always easier, though, to start those projects tomorrow instead of today. In
this episode, we examine how commitment devices may be used to align our short-term incentives with our long-run
John: Thanks for joining us for Tea for Teaching, an informal discussion of
innovative and effective practices in teaching and learning.
Rebecca: This podcast series is hosted by John Kane, an economist…
John: …and Rebecca Mushtare, a graphic designer.
Rebecca: Together we run the Center for Excellence in Learning and Teaching at the
State University of New York at Oswego.
John: Today’s guest is Dr. Dean Karlan. Dean is a Professor of Economics and Finance
at Northwestern University, Co-Director of the Global Poverty Research Lab at the Kellogg School of Management,
President and Founder of Innovations for Poverty Action, co-founder of Stickk.com and Impact Matters, and a
member of the Executive Committee of the Board of Directors at the Abdul Latif Jameel Poverty Action Lab at the
Massachusetts Institute of Technology. Dean is the author of many scholarly articles and several books related
to economics, including my favorite introductory economics textbook. Welcome, Dean.
Dean: Thank you. Thanks for having me here.
Rebecca: Today’s teas are:
Dean: A vanilla expresso. I’ve said it as “expresso” for the sake of our mutual
friend Matthew. [LAUGHTER] So we can show this to him and he will be very upset. [LAUGHTER]
John: …and I am drinking Bing Cherry black tea.
Rebecca: …and I have the Sally Lunn… Disclaimer: I’m not sure if that’s how you
say it… house blend tea from the UK. [LAUGHTER]
John: We invited here primarily to talk about some of the work you’ve done related
to behavioral economics. We know that students learn more when they engage in spaced practice, yet students tend
to procrastinate, as do most faculty. So we want to talk to you a little bit about why people tend to focus on
immediate gratification at the expense of long-run goals.
Dean: So, you know, the heart of it is human nature to some extent. And I think the
thing to realize, though, is that it’s not a universal truth, right? There’s many situations, and many people
who are more patient than others… that are patient in one domain, not in another. There’s a general sense, of
course, that we value things more today than we do tomorrow. This is kind of at the heart of economics, but a
lot of the issues that we’re doing research on, and some of the active policies that we’re working on, aren’t so
much about whether people are patient or not. It’s about whether they succumb to temptation, and there is a
difference. And the difference is this. When we talk about succumbing to temptation, what we’re saying is, if
you ask me what I want to do in a month, I tell you, I want to eat healthfully. I want to exercise. I want to
train for a marathon. And then when a month comes, and now a month from now is now today, and you say, what are
you doing today? And I go, “Oh, yeah, that chocolate cake looks really good. [LAUGHTER] And I ran out of time,
I’m not going to go to the gym today.” And I go, “I’m too tired. I prefer to go to the movies. And that
marathon? Yeah, kind of cold. I guess I kind of knew that a month ago. But I was out of mind. And so I’ll train
for that later.” And so the point is, my preferences change. And that’s something that economists historically
did not handle very well, this idea of preferences changing. And yet that is what behavioral economics has
done… is basically trying to build better models that take into account that reality of preferences
changing… and whether we call it preference and changing or not, is kind of a technical jargon thing. But the
basic idea that you can say you want A over B in a month, and then when a month comes, you say actually I prefer
B over A. And that’s a fundamental change in a lot of the ways that economists were thinking about things and
this applies in many domains. And the reality is, I might be really well disciplined when it comes to spending
money on one thing, for instance, like clothing, I have like almost zero temptations on clothing. But yet for
peanut M&Ms, I have a real big problem. [LAUGHTER] And I know there’s lots of people that are exactly the other
way around, right? And so it’s not something that we can attribute to someone as an individual characteristic
and saying, “You succumb to temptations, and you don’t.” Everybody has their different areas where they’re
strong, and they’re weak.
Rebecca: So when we want to accomplish something in our academic field, or we want
our students to accomplish something in what they’re studying, how do we get them to not succumb to that
temptation of doing the thing that seems immediately desirable.
Dean: So I think the absolute single most important thing is to help someone become
self aware. Once you do that, then there’s a few different paths that might work. And people are different. So
that path might be different. But the first step, that in most situations, is important for that kind of
weakness is to help people become self aware. And by self aware, I mean aware of the fact that if they don’t
change something about their environment, that they’re on a certain path, and they’re likely to engage in that
temptation behavior, and even though they say now they don’t want to do it, if they don’t change something or do
something different, they’re more likely to do it. And so what is that path that they could go down? Well, one
example, which is what you mentioned earlier, Stickk.com, which is a website that I started, that allows people
to write commitment contracts. So if I want to, let’s put it in the school work or the work context, suppose I
have a partnership with a co-author, and I am being derelict in my duty to write the introduction, we agreed I’m
supposed to take first stab at, and every week there’s something else comes up and I don’t get to it. So I go on
Stickk and I write a contract to my friend, my co-author, and I say if I don’t deliver it to you by next Friday,
I owe you $500. It’s still not a perfect contract, right? I mean, I could hand them a piece of crap that’s not a
very well written document, and he could say, “This isn’t good.” So there’s lots of wiggle room there, but there
has to be some level of trust with my collaborator… it’s a contract that the collaborator can call me out on
and say, “Look, we both know this is not what you said you would do,” so you still need some element of trust in
that agreement to make that work. But that’s the kind of thing you can do. And by making that concrete plan and
actually making it even more costly, beyond just continued shame, and scathing emails from your friends, it
makes you more likely to engage in the behavior you say you want to engage in. The punch line we use is it
increases the price of vice. Whatever your vice is, it’s a way of increasing that price.
John: So the goal is basically to align the short-term incentives with the long-run
Dean: That’s exactly right, to make it so that the prices you’re facing now are
aligned, are going to drive you to the behavior that you say in the long run you want to engage in.
John: So you’re changing the costs or benefits of the activity immediately through
some mechanisms such as Stickk.com.
Dean: Exactly. And of course, you know, I could write a contract with you just on
the side… just by emails and say, “Hey, if I don’t do X, I owe you Y. So, Stickk is a vehicle for making it
easy for people to do this. One of the popular options on Stickk is actually where I don’t give money to you,
but I give money to a charity that I hate. This might work really well if we disagreed on some political issue,
which I doubt we do. But I suspect over the years, we’ve talked about things we would have identified some
disagreement if we had one [LAUGHTER] that was stark enough on the extremes. But if we did, it would work out
really well. Because I could say, “Hey, I’ll send money to the charity on the other side of the political
spectrum, which you like, and I hate, and then you’re happy to enforce that. [LAUGHTER]
John: So anti-charities seem to be really effective.
John: For example, I think you recommend for liberals, I haven’t checked recently,
but for liberals, you recommend the NRA or a Republican super PAC. And for Republicans. I think you recommended
the ACLU or a Democrat super PAC.
Dean: That’s exactly right. And we also have gun control, abortion, gay rights, and
super PACs on the two sides… and for the religious people in England, we offer up different football teams
[LAUGHTER] so you can support Arsenal or Chelsea or Fulham, and the money goes off to the team that you hate in
John: What types of commitments do people make on Stickk.com.?
Dean: The single most common, it shouldn’t be a surprise, which is weight loss. I
mean, that is the biggest issue where this is highly relevant where everybody can think of someone who says they
want to lose weight, and somehow doesn’t do it. And every day, it’s like “Tomorrow I’ll do it.” Smoking
cessation is another very common one. And we have seen several randomized trials done not via the Stickk
website, but outside, but with the same exact contract structure that show that it became very effective for
helping people stop smoking if they agree to sign up for this contract. So smoking cessation is common…
exercise is common. There’s also a very large set of interesting contracts that people come up with on their
own, that are everything from dating… to marital relations… to work… to getting work done… So, flossing
your teeth…. Speaking more slowly to foreigners in New York City was one of my favorites. Another one of
my favorites just said “I will not date any more losers.” And the punch line that I really liked in particular
was that this person named a friend as the referee. The website allows you to name a friend who gets to
adjudicate whether you succeed or fail. So this person said that I will not date anymore losers, and Susie gets
to decide if any of my dates are losers or not. That was awesome. [LAUGHTER]
Rebecca: Have you seen good success with people using Stickk.com?
Dean: Yes. But as a social scientist, I want to caution my “Yes.” So it’s very
pleasing to get emails… and I do get them fairly periodically from people telling me some story about
Stickk or I meet someone and they told me about how they used it to achieve a goal and wasn’t this great. And
that makes me very happy. In the back of my mind, as a social scientist, I’m always like, “Well, that’s great.
But did we cause that to happen? Or were you just the kind of person who was going to achieve that goal anyhow
and you used Stickk as your vehicle, but had Stickk not existed, you would have found some other way? Because
you were just a really driven person dedicated to overcoming your temptation problem. Now, that’s the whole
reason why we do run randomized trials, because we want to know, did we cause that to happen or are we just the
stepping stone along the path that was going to be taken anyhow. And there have been randomized trials done on
commitment contracts. And we do find very strong consistent evidence that for those who signed up, it is a very
strong tool that does lead to behavior change that would not otherwise happen. Having said that, take an example
of a study I did in the Philippines on smoking cessation doing a contract that was almost exactly like Stickk.
The difference was the money, if they failed, went to a local orphanage. It didn’t go to a charity they hate.
And there, we had a very large effect on likelihood of stopping smoking… about a 30 percentage point shift in
the likelihood they stopped. That’s a big, big treatment effect. But only one out of nine people said “Yes” to
opening the contract. Eight out of nine said, “Huh? Yeah, I know I told you I want to stop smoking. But I guess
I don’t really want to stop that badly… or I don’t think I can and so I’m not going to sign this contract
because I think that’ll just end up costing me money. And I’ll still spend money on cigarettes. And so I won’t
sign the contract.” So, eight of nine did not… but one out of nine did. And the idea was that they were taking
money they were spending on their cigarettes, and instead they’re putting in an account. So even if they kind of
stopped smoking some and went back, we don’t think of that as a bad thing even if they lose the money, because
they did smoke fewer cigarettes in the meanwhile… failed to stop… So it didn’t work. But they did smoke less
and the charity got some money. So one of the things that this makes me realize that goes back to the question
you asked earlier, which is helping people be self aware. How do you move the needle on that one out of nine?
Why is it only one out of nine? Is it that people don’t realize that if they don’t do something like this,
they’re going to probably just continue smoking, and they need to engage in some sort of change in their
environment? Change in the prices they face? Change in some peer influence? Change in something to help them
stop smoking… That it’s not going to just happen because they wake up one day and decide to do it.
John: You mentioned randomized controlled experiments. And I know that’s one of the
things you’ve done extensively with IPA (Innovations for Poverty Action). One of the things I’ve noticed in much
of the research in teaching and learning is often people do an intervention and they look at how it works for
the students who actually use that intervention, but they don’t get evidence on the counterfactual. So, you
don’t know how it would have worked in the absence of that intervention. So how might, perhaps, we think about
doing more randomized controlled experiments in educational research.
Dean: So I think there’s a lot of settings in which one can do them in education.
They do need large classrooms, or multiple classrooms or collaboration across universities in order to have a
sufficient sample size, but there’s lots of ways that one could do it. I’ll give you an example. We have a
Principles of Economics textbook that you mentioned earlier. And our theme very much in this book is kind of two
prong: one is it’s a very much a theme about economics is a good thing… that if you use it can help you
actually improve your own life and also help improve public policies. We’re trying to get away from this bad
image of being a dismal science and instead point out that economics really can be a path towards better lives.
But the other part is trying to be very grounded in empirical analysis and examples that are real, that provide
data and a crisp understanding of how these economic theories actually play out in real life. And one of the
things that we wanted to do in this is trying to understand, “Well, does reading the book help learning?” Kind
of a dangerous question for us to ask… a little scared… We haven’t done this yet, but we started a pilot of
it, where we wanted to get professors at different universities who are using the book to basically offer
students a little bit of like a raffle, where there’s a quiz that’s online that we can organize at the end of
the chapter. That’s where students have a bit of an incentive to read those chapters. And we can randomize which
students in which week get that incentive and they’re told, read chapter four, and go online, and there’s going
to be 10 questions on this website that the authors of the book set up and you just answer those 10 questions.
And if you answer them correctly, or eight out of 10 or something like this, then you get entered into a raffle
for an Amazon gift card. And what this allows us to do, because of all the electronic homework and problem sets
and things of this nature, is actually run a test of whether, assuming that that prize leads to an increase in
reading of the actual textbook, we can actually see the impact of reading the textbook on test outcomes. And so
this is an example of the kind of research that one can do. Why might we do this? Because imagine instead within
the alternative, which is just to take a final exam, and ask people ahead of the final exam, “Hey, by the way,
we just want to know who really read the book and who didn’t.” Suppose we got a list.. …we got, you know,
two-thirds of the class read it, one-third did not… and then we looked at the grades, and we said “Ah,
the two thirds of the class that read the book did better on the final exams and one-third did not…” That
would be a really bad analysis, that would be a really horrible thing to conclude and say, “Aha, that’s our
book, causing that change to happen, and improve test scores…” because anybody who was reasonable would look
at us and say, “Well, wait a second, the two-thirds that read the book, they sound like better students. They’re
more diligent, they’re more disciplined, they do their assignments, and so they probably just studied harder in
general and invested more time in the course. They maybe even went to the lectures when the other third didn’t
even bother going to lectures, all sorts of things are different.” And so you cannot just look at the difference
in test scores and say that’s caused by reading the book. And so that’s why we set up randomized trials in that
way, is to try to get at the causality question, not the correlation question.
Rebecca: So do you have any research or advice about motivating the students who
wouldn’t be those one of nine to sign a contract in the first place… to actually get them to commit to doing
better? Have you done any research in that area to think about that?
Dean: For it’s worth, we’re actually in the middle of setting up studies on this and
part of the idea is a little bit of a two stage process: let it play out a little bit without and see whether
they succeed or fail, ask people to make predictions upfront: “Will you succeed or fail?” Ask them upfront
say, “You know what? If you don’t succeed, how about in the future writing and commitment contract?” Because a
lot of people might say, “I don’t need to do a commitment contract, I’ll do it.” And then you say, “Okay, but
just in case, though… just in case. How about in a month, if you haven’t done it, then do a contract?”
They’ll go “Yeah, fine…. that’s fine, because I’ll do it. So it’s okay.” And then a month comes, and they
haven’t done it ad then you go: “You remember that thing you said… a month ago… you said you’d do it. You
didn’t. But you said If you didn’t do it, you’d write a contract. So here we are. [LAUGHTER] You want to do the
contract?” So we’re actually testing that out in a couple different domains to see if that’s a good way of
helping people become self aware. And it might be actually a really nice way of doing it. Because some people
will actually succeed in that first month. That’s good, that’s great. We want that. But we want to be there to
kind of clean up afterwards and pick up and help the people that are not able to achieve that goal.
John: One of the things we’re doing on our campus this semester is we have a reading
group of Saundra McGuire’s Teach Students How to Learn. And one of the things she suggests is that very sort of
intervention, that the best time to encourage students to commit to trying new strategies is after they’ve tried
their existing strategies, and they’ve been unsuccessful. So they’re primed to at least consider it.
Dean: That sounds great. I agree.
John: You talked a little bit about stick calm. Are there other types of commitment
devices that students might use to encourage behavior consistent with their long-run objectives.
Dean: So I think there are some in the social side. As an example, there’s studying
is the obvious… that we talked about, but there’s a lot of things that are the kinds of things that we all say
we want to do. But when the time comes, maybe is time consuming, or costly, like donating money to charity.
Right? There might be some cause… call it climate change… call it poverty in developing
countries… call it poverty in America, whatever the case is, and it’s something that is troubling to us.
Something that we feel like even if we contribute a little bit… it’s important, we can contribute a
little bit. That little bit can make a difference. And we want to be a part of that. But yet, when it comes time
at the end of the month, or worse yet, at the end of the year, when a lot of people do think about writing
checks and providing support to charities, they’re left with whatever is in their bank account. And why is less
in than their bank account than they expected? Well, let’s go back to the earlier conversation. Because they
were in a mall, and that shirt looked interesting, and they went out to one more dinner than they had planned to
in their budget, or they were at dinner and they had one more Margarita than they had planned to. These things
slip through, and they’re never thought about when you’re thinking about your overall budget and the end of the
month comes and you don’t have the money… or the end of the year comes and the money’s not there… And the
idea is, again, thinking about well, “What proportion of income do you want to be spending on charitable goods
and supporting other people and helping align those things you say you care about with your actual behavior of
what you’re actually doing with your money after paying for the things you really, really need, like rent and
electricity. So there are various tools for trying to do that… locking in automatic payments every month,
for instance, so that it just happens automatically. There’s a new app that I’m helping to do research with them
to help figure out how to promote called Momentum, which tags giving towards behaviors in your life or behaviors
in other people’s lives. So you can say everything I go to Starbucks, I want to donate 10% of my spending at
Starbucks to clean water in developing countries. Or you can say every time I buy clothing, I want to send money
to a homeless shelter in America. Or you can tack things to other people’s behavior. Every time Trump tweets, I
want to send money to the ACLU… [LAUGHTER]
John: That could get really expensive.
Dean: Well, you control how much. [LAUGHTER] …and It can do things on both sides
of the political spectrum. That’s just one example.
John: That discussion reminds me of a study I think you were involved… a
study on fertilizer and Sub-Saharan Africa?
Dean: Yes, this is research that was conducted under the umbrella of Innovations for
Poverty Action, but it’s not my personal research. And it was a striking example of how these issues of
temptation in financial management and planning for the future versus dealing with things today. This is germane
to people, whether they’re rich or poor. And in the case of using fertilizer, this is one of those cases where
if you go to most for farmers low income farmers in Sub-Saharan Africa, most farmers do know that using more
fertilizer is better for them in the long run in terms of them earning more money. But if you go at planting
season when they need the fertilizer and you say, “Well, why aren’t using fertilizer?” The most common answer is
not that I don’t know to do it, but just that “Well, I ran out of money, cuz I just had three or four months of
the hungry season where I used up all my money.” And so what the researchers did is went to them at harvest when
they’re flush with cash and said, “Would you like to buy a voucher now, that is good for some fertilizer, and
you just come back in three months, and you use the voucher to get you fertilizer? And by the way, if you change
your mind, you feel free, you can cash this voucher back in for cash.” So it’s not actually a very strong
commitment. And farmers said, “Yeah, that sounds like a good idea.” …and sol they did that. And then
fertilizer use went way up.
John: So the notion is pre-committing to things and locking that in somehow becomes
the new status quo, and then it forces that change in behavior, it makes it more likely that you’ll persist with
that change in behavior.
Dean: Exactly right. And one of the other lessons we learned is that soft
commitments are usually probably better at than hard ones. If it’s too binding, it goes back to we talked about
earlier… if it’s too hard of a commitment, then people might be reluctant to agree to the commitment in the
first place. So you need for to be a little bit of wiggle room and some trust with whoever’s on the other side
of that commitment to say, “Yeah, yeah, yeah, I hear you. The circumstances are a bit tough. That’s okay. Don’t
worry about it.” Depending on who you’re doing this contract with and what the context is, you do need that kind
of wiggle room usually, for reasonable exceptions to apply.
John: And you mentioned the social aspect of it. One thing I was thinking when you
mentioned that was that I know some people who made commitments to go to a gym regularly. And then if one of
them didn’t show up, say Rebecca, the others would post a picture on Facebook saying “We’re all here. Where are
Dean: That’s awesome.
John: Can students perhaps sometimes leverage peer pressure to encourage behavior
consistent with their long-run goals?
Rebecca: Let’s note that when they backed off on that, I stopped going to the gym.
Dean: That is absolutely a hundred percent consistent and actually, thank you for
bringing this up. Because I should have said this earlier. When I say “increase the price of vice,” that doesn’t
necessarily mean cash price. That’s a good example of increasing the social price, the social cost of failing to
go to the gym. It’s a different form of payment, so to speak, is reputation and peer influence. But it’s very
much exactly in the heart of what we mean. And a lot of people in the Stickk website actually do not put money
at stake. They do put their reputation, they name a referee, and supporters who get informed whether they
succeed or fail. And that’s it, there’s no money. And we still get thank you emails from people about how it
helped them. You’ve got to know your type, and maybe that’s going to drive you more than 100 bucks. And so do
that instead of 100 bucks… .or both.
Rebecca: Just going back to the fertilizer example and I’m wondering if you could
set up something very similar in a classroom where students commit to something early on that has a little bit
of wiggle room to it, but might actually get them to follow through by the end of the semester.
Dean: There have been studies on things of this nature, getting students to give
them flexibility for when to do assignments versus getting them to commit to when their assignments are… and
when students are committed to when the assignments are rather than giving them flexibility,. performance tends
to be better.
John: And it doesn’t matter whether the commitments are imposed by the instructor or
whether they were self imposed. As long as there are deadlines with a penalty, students tend to do things. And I
think that’s true for us too… that if we have an abstract that needs to be submitted for a conference, I
suspect there’s a lot of them submitted right before that midnight deadline. So deadlines can be helpful, I
Rebecca: I know I don’t do anything unless it has a deadline. [LAUGHTER]
John: I have deadlines every day.
Dean: I remember being told by a few different admissions panels in a few different
instances that you can definitely see, if you look at the likelihood of acceptance…. you see a strong
correlation between submitting the application early and last minute. These are two kind of difficult to get
into schools. And if you look at people who submitted a week to a month early, before the deadline… that’s not
a factor that’s used in decision making… but they do end up with a higher likelihood of getting admitted…
that these are students that have their act together… have everything in order and are stronger students
overall than students who submit at the last minute. So it’s not saying submit early and you increase your odds
of getting it. Just to be clear, this is not a causal mechanism, this is a correlation. [LAUGHTER]
John: That reminds me of another study we referred to. I don’t remember the exact
citation, but there had been all these studies (and we’ve talked about this in an earlier podcast)… there had
been a lot of studies suggesting that students who took notes by hand did better than students who took notes on
a computer or mobile device. And there was a randomized controlled experiment done maybe a year and a half or so
ago, where half the class used computers for half of the class. the other half took notes by hand, and they
found there was no significant difference depending on how any individual student took the notes. The difference
was, those students who chose to take notes by hand generally tended to be more successful, no matter what way
in which they took their notes. So it’s that self-selection issue that we see in a lot of these studies that can
be problematic in interpreting the results.
We always end our podcast by asking what’s next?
Dean: What’s next for us is coming October/November, we’re going to be releasing
over 1000 ratings of charities in America at Impact Matters, which is the other charity which I started, which
you mentioned briefly. Impact Matters is providing guidance to donors to help them choose good charities,
because there’s sadly no real good venue for doing this en masse right now. There’s way too many groups that are
focused strictly on accounting data and accounting data can be very, very misleading. But we are focused on what
matters: impact. Hence, our name: Impact Matters. And we’re going to be releasing 1000 ratings October/November.
I don’t know when the podcast comes out, but it comes up before then, great. Help us get this out there. We also
want to form student groups that help communicate and learn from what we’re doing so they can understand what do
we mean by impact. So it’s something that we want to form student groups on campuses about. So please do reach
out if you have any interest in getting involved or getting students involved
John: We’ll include a link to that in the show notes as well as contact information.
John: Thank you, Dean. It’s always a pleasure.
Rebecca: Thanks so much.
Dean: Thank you both. It’s great to talk to you.
John: If you’ve enjoyed this podcast, please subscribe and leave a review on iTunes
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Rebecca: You can find show notes, transcripts and other materials on
teaforteaching.com. Music by Michael Gary Brewer.