Having made this year’s New Year’s resolutions, next, we can ask a behavioral economist about the best ways to stick to them.
Through a mega study involving more than 60,000 participants, behavioral economists identified the most effective exercise nudges.
Combining the incentive of a “fresh start” with commitment devices, we could actually keep our New Year’s resolutions.
Further evidence that economics is everywhere, a behavioral economist knows how to incentivize exercise through temptation bundling.
To keep our New Year’s resolutions, behavioral economics has several simple suggestions that painlessly preserve our discipline.
A year ago at the Academy Awards, Frances McDormand gave the movie studios a nudge when she referred to the inclusion rider.
Called temptation bundling and piggybacking, ideas from behavioral economics provide some easy to follow methods for keeping our New Year’s resolutions.
Combining our “wants”and “shoulds” into temptation bundling, we wind up with a commitment device that helps us keep our New Year’s resolutions.