commitment in behavioral economics

In behavioral economics, commitment refers to the actions individuals take to bind themselves to specific choices or behaviors in the future. This can include making promises, setting deadlines, or creating penalties for not following through. The idea is that by committing to a decision, people can overcome procrastination or temptation, helping them achieve long-term goals. For instance, someone might sign a contract to exercise regularly or join a group that holds them accountable. Commitment strategies leverage human tendencies to maintain consistency and avoid the discomfort of failing to meet one's own expectations.