• John BeShears
  • David Laibson


Self Control and Commitment: Can Decreasing the Liquidity of a Savings Account Increase Deposits? John Beshears, David Laibson, and Brigitte Madrian, August 2015, Paper. "If individuals have self-control problems, they may take up commitment contracts that restrict their spending. We experimentally investigate how contract design affects the demand for commitment contracts. Each participant divides money between a liquid account, which permits unrestricted withdrawals, and a commitment account with withdrawal restrictions that are randomized across participants. When the two accounts pay the same interest rate..." Link