This has proven to be most effective
Positive reinforcement: giving a goody. This best is using an intermittent schedule, especially after often giving goodies.
Negative reinforcement: taking away a bady. Examples are removing some restraint, such as allowing a child greater freedom for being more mature and responsible.
Response cost: taking away a goody, we all experience that when you receive a traffic fine, it takes away your money. For children, taking away a privilege, such as a 'time out'
Punishment: receiving a bady, such as a spanking. for most young children, just the idea of presenting the bady alone punishes, more so than the pain. I am saying there is non good reason to cause much pain.
With very young children the lowest form, punishment will work best because a response cost is not understood. Also, corporal punishment is only effective, in most cases, with very young children.
Later, response cost, such as 'time out' is more effective. If you punish properly, the child should respond with with no more than a verbal threat, such as, " you keep that up, you will get a spanking".
Reinforcement is the best method, as children like to earn freedom and goodies.
It worked well for me, yet every child is unique and different; the adult should understand how to use these methods most effective.