Question
Timothy wants to set a personal goal for this summer. He authorizes keepmygoal.com to charge him $100 if he fails to reach his goal by
Timothy wants to set a personal goal for this summer. He authorizes keepmygoal.com to charge him
$100 if he fails to reach his goal by the summer.
a) What behavioral bias is keepmygoal.com designed to help overcome?
b) keepmygoal.com is exploring the option to let Timothy's friends and family members bet on his
goal. would think this option would work? Does it increase Timothy's chance of achieving his goal?
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Principles of Economics
Authors: Gregory Mankiw
7th edition
128516587X, 978-1285165875
