Commitment device

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A commitment device is a self-imposed/voluntary strategy that helps people stick to their goals by imposing restrictions or penalties if they don't achieve them. The goal is to help people make better choices in the face of their cognitive biases, and to bring about gains/positive changes for their future selves.

"Commitment devices attempt to enforce people’s voluntarily imposed restrictions until they have accomplished their goals, or their voluntarily imposed penalties for failing to accomplish their goals."[1]

The article Commitment Devices — Your Ultimate Guide indicates: "Firstly, it’s a voluntary choice you make in the present that impacts your choices in the future; you try align future choices to only those that reflect your long-term goals (1). This means you must be self-aware of where and when the gap exist between your intention and actions. Secondly, Commitment Devices adds a cost to not acting in line with your stated intentions and goals (2).

Quote

"[Commitment devices] are decisions you make with a ’cool head’ [right now] to bind yourself so that you don’t do something regrettable when you have a ‘hot head’ [in the future].” — Daniel Goldstein[2]

See also

External links

Videos:

Notes