Present Bias - People often give greater weight to immediate rewards while undervaluing delayed rewards.
Hebb's Rule - Neurons that wire together - fire together.
Hebb's rule is a postulate proposed by Donald Hebb in 1949 . It is a learning rule that describes how the neuronal activities influence the connection between neurons, i.e., the synaptic plasticity. It provides an algorithm to update weight of neuronal connection within neural network.
Ulysses Contract - A Ulysses pact or Ulysses contract is a freely made decision that is designed and intended to bind oneself in the future
A Ulysses Contract is a promise you make today, to achieve your goals in the future.
By entering into a commitment contract, you are 3x more likely to reach your goals!
The best contracts:
1. Create barriers to temtations
2.are made public so that personal reputation is at stake
3. incorporate finachial penalties or rewards.