Wednesday, January 23, 2008

Markets in Everything and StickK

Here is a link to Marginal Revolution's markets in everything. The latest such market is, launched by economists Ian Ayres and Dean Karlan, to facilitate personal commitment contracts to achieve a more healthier lifestyle.

If you want to quit smoking or reduce your weight and care ot able to do the same, no need to worry any longer. Enter into a contract with StickK, and pay some money upfront, with a contractual commitment to pay a fixed instalment to charity if you are unable to reduce and finally goive up your cigarettes or do fixed number of rounds or push-ups.

Update 1
NYT has this article on commitment contracts to reduce weights.

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