Wednesday, January 26, 2011


Pre-commitment can be a pretty useful tool. What is there was a device that allowed you to precommit to you doing what you want to do and then made sure that you tried your best to do the same. It would for example stop you from eating a double fudge chocolate ice cream when you are trying to get back in shape or in the financial world, make you stick to your sell the stock when the price falls 10% or rises to reach your goal. We would not have traders turning into long term investors.

Such a device would not let you fall for short term rewards and sacrifice long term gains. I for example would get up sharp at 7:30 am (time of my first alarm) instead of 9 am every day (20 minutes past the second alarm on my smart phone). Image, my smart phone would get up and spray water on my at 7:35 if I am still in bed. Or a bed which starts to fold up and roll into the wall. Imagine the possibilities with precommitment

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