Anecdotally, physical activity appears to be a textbook example of time inconsistency, which is the failure to follow through on ex-ante preferences and plans. Interestingly, our longitudinal survey finds that, over a fortnight, exercising more than preferred/planned is actually more prevalent...

The commitment ability of governments is neither infinite nor zero but intermediate. In this paper, we determine the commitment ability that a government needs to implement a unique equilibrium outcome and rule out self-fulfilling expectations. We show that, in a large class of static...