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Saturday, January 2, 2016

Freakonomics Radio by WNYC on iTunes

When Will Power Isn't Enough Happy New Year! Time to kick off those resolutions. Resolutions are categorized into two categories: aspirational and loss avoidance. Aspirational resolutions are those such as traveling the world, writing a novel and playing the piano. If the resolution isn't kept there may not be a tangible or definite consequence. Not surprisingly aspirational resolutions are commonly broken. Loss avoidance resolutions have impact on your current life. For example, if you are an author, a resolution to finish that novel may have a consequence if not kept because your publisher has given you a cash advance based on a due date. If you don't keep that deadline, you may not be able to pay the morgage. Loss avoidance resolutions are more likely to be kept. There is a strategy, however, which may make it more likely for you to keep your aspirational resolutions-a commitment instrument or "temptation bundle." Listen below.
from Rajesh Harrykissoon, MD