How the given constitutes a commitment strategy

Reference no: EM132179253

Question: At the website stickK.com (started by one of the authors of this book), you can sign up for a contract in which you promise to meet certain weight-loss targets each week, and forfeit money that you put up as stakes if you fail to meet those targets. Describe why a rational person might be willing to pay money if he does not lose weight, and how this constitutes a commitment strategy.

Reference no: EM132179253

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How the given constitutes a commitment strategy : At the website stickK.com (started by one of the authors of this book), you can sign up for a contract in which you promise to meet certain weight-loss targets.

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