Dean Karlan

Behavioral economics recognizes that people do not always do the things they say they want to do – and then later regret it. Commitment contracts are a way to make vices more expensive and virtues cheaper by binding your future self – much like Odysseus did to resist the temptation of the sirens on his famous journey.

Keynote speaker Dean Karlan created stickK.com in 2008, a website that allows individuals to write a contract in which they (a) set a goal, (b) put up (optional) cash stakes and say where the money will go (anti-charities are popular), (c) name a referee, and (d) name supporters who are informed if they succeed or fail. In this talk, he explains how principles from stickK.com and can be used to help nonprofits fundraise and corporations improve employee wellness, through positive incentive programs for everything from completing health appraisals to losing weight to maintaining a work/family balance.