Paying students for attendance, behavior and homework can boost achievement

When I was in grade 4, our teacher "paid" us every day in monopoly money. Everything had a cost - going to the washroom during class, sharpening a pencil, etc. And there were fines for being late with your school work, or being disruptive, etc. This went on for the entire school year.

It seemed to work at least a little, because people got really stressed out when they were running out of money. This was mainly to teach how money works, but it probably had bonus behavioral side effects to boot.

The concept was featured on Freakanomics and you can read about here, as well:

https://www.chicagobooth.edu/review/should-we-pay-students-g...

From what I remember, the technique is generally effective but still not a magical, 100% solution. Peer pressure, family life, and mental health/fitness are still going loom large in academic success.

Another successful approach in Baltimore:

https://www.thread.org/