Why do commitment devices work? They’re “a way to... - Deepstash

Why do commitment devices work? They’re “a way to overcome the discrepancy between an individual’s short-term and long-term preferences,” clarifies economist Jodi Beggs. “In other words, they are a way for self-aware people to modify their incentives or set of possible choices in order to overcome impatience or other irrational behavior.”

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