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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.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M92761525

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