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The Company That Cancelled Christmas
Cautionary Tales with Tim Harford
How to Resist Tendency
After Fairpack collapsed, there was a lot of commentary lamenting the fact that its customers had not understood more about finance. But they did understand what the business model offered them - we tend to value rewards in the present, more than rewards in the future. When we know we might need to resist temptation, one good strategy is to make a commitment to someone that we don't want to let down.
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