An example of a commitment device for Jane,who says she really wants to save more would be:

Question

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By agreeing to give her new purchases to her best friend and not being allowed to borrow them, Jane is creating a commitment device that makes it much harder for her to back out of her goal of saving money. When she sees something she wants to buy, she will be reminded that she won't be able to use it herself, which will provide an extra incentive to resist the temptation. The other options could also be helpful but are not as effective as this commitment device.

An Example of a Commitment Device for Jane,who Says She