A post in another area got me to thinking about this. How would this work in a high school classroom - suppose you give the students free time at the end of class on Friday as a reward. But suppose there were one or two students that will not receive a reward. What do you do with those students, or have them work on, so that it's not considered free time - you can't really give them an extra assignment because I have read to never give school-related work as a punishment. You can't sit them in the corner Would something good be to have them maybe scrub down all the lab tables and sweep the floors, or what are some other ideas?
Big rewards are tough because some students have a difficult time behaving. Can you move them to another room, during the reward? Think of individual rewards. Such as listening to I-pods, extra bathroom privlidges, no homework on fridays. If all the students are good give class rewards. If one or two cant behave either talk to them about their behavior or dont have the party. "Is there reason you dont want the students to have a party on Friday?"
This kind of side steps your question, but...I would suggest avoiding "free time." Instead, provide a time for students to take advantage of structured choices.
Give a coupon for the privilege. Maybe an assignment free day. Those who haven't earned it, don't have the coupon. My kids teachers give out a couple of tardy passes to be used any time - earned passes. They are very valued!