I'm not convinced that these type of commitment devices work unless the monetary fine is significant to the user. The problem is that 1) people have varying lev

I'm not convinced that these type of commitment devices work unless the monetary fine is significant to the user. The problem is that 1) people have varying levels of what "significant" means, 2) if the fee is more than one can afford to spend, then one would not sign up for risk of losing the sum and 3) if the fee is easily affordable, it's not too difficult to justify in one's head losing the fee -- especially if it's donated to charity. It would take a lot of calibration to find the perfect amount to charge, if a general 'perfect amount' exists. Personally, I think more companies should bring in more 'social' commitment devices, like setting up an e-mail that goes out to all my closest friends, my boss, and that girl I like -- when I fail to complete something. Social pressure, perhaps along with monetary incentives, are quite powerful and nuanced in a way that money could never be. EDIT: Wanted to point out that qntmfred made the same point on social pressures 3 hours ago -- didn't see it until I posted.