Commitment Devices

Students, and faculty, generally have good intentions when planning to work toward long-run objectives. It’s always easier, though, to start those projects tomorrow instead of today. In this episode, Dr. Dean Karlan joins us to discuss how commitment devices may be used to align our short-term incentives with our long-run goals. Dean is a Professor of Economics and Finance at Northwestern University, Co-Director of the Global Poverty Research Lab at the Kellogg School of Management, President and Founder of Innovations for Poverty Action, co-founder of Stickk.com and Impact Matters, and a member of the Executive Committee of the Board of Directors at the Abdul Latif Jameel Poverty Action Lab at the Massachusetts Institute of Technology. Dean is the author of many scholarly articles and several books related to economics, including my favorite introductory economics textbook. A transcript of this episode and show notes may be found at http://teaforteaching.com.