stickK

This file may be deleted after Friday, 27 June 2008. stickK.com, LLC, also known as stickK, is an internet start-up company that enables users to make make Commitment Contracts in order to reach their personal goals.

These goals may vary from losing weight or smoking cessation to reading a book or learning a new language. Users deposit money with the company which will be forfeited if they fail to reach their goal.

History

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stickK was founded by two Yale University professors, Dean Karlan and Ian Ayres, and an MBA student at Yale School of Management, Jordan Goldberg.

Commitment Contracts

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There are two kinds of Commitment Contracts that users can make on stickK:

• ongoing Commitment Contracts and
• one-shot Commitment Contracts

Referees

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A Referee is an individual or an organization that users can select to monitor the progress of their Commitment Contracts. The Referee can be anyone the user select, a friend, a spouse or even a boss. Every time a user submits a report on www.stickK.com, the Referee receives an email notification asking for confirmation of the report´s accuracy. The Referee may then choose to take the user's word for it, or may ask for proof that the user did indeed meet their commitment.

Supporters

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Once users create a Commitment Contracts, they can designate other users and friends as "Supporters". Supporters are able to track a user's progress and post comments in their Commitment Journal (this is where users can write about their commitments and interact with other users). Supports also receive notification emails from stickK on the progress of the people they are supporting.

Interesting Facts

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The word stickK comes from the idiom Carrot and Stick, which refers to the act of rewarding good behavior and punishing bad behavior. The second ‘K’ in stickK represents the abbreviation for "contract in legal shorthand.

References

• "Carrot and stickK". The Economist. 02/07/2008. Retrieved 2008-02-07. {{cite news}}: Check date values in: |date= (help); Cite has empty unknown parameter: |coauthors= (help)
• "stickK To Your Commitments". The New York Times Freakonomics Blog. 01/21/2008. Retrieved 2008-02-07. {{cite news}}: Check date values in: |date= (help); Cite has empty unknown parameter: |coauthors= (help)
• "stickK Allows You To Put A Contract On Yourself". TechCrunch. 02/15/2008. Retrieved 2008-02-15. {{cite news}}: Check date values in: |date= (help); Cite has empty unknown parameter: |coauthors= (help)
• "Can Economics Help Americans Lose Weight". CNBC. 11/12/2007. Retrieved 2007-11-12. {{cite news}}: Check date values in: |date= (help); Cite has empty unknown parameter: |coauthors= (help)
• "stickK.com: Take a Contract Out On yourself". The Wall Street Journal. 11/12/2007. Retrieved 2007-11-12. {{cite news}}: Check date values in: |date= (help); Cite has empty unknown parameter: |coauthors= (help)
• "A Web contract for personal goals". The Boston Globe. 04/15/2008. Retrieved 2008-06-20. {{cite news}}: Check date values in: |date= (help); Cite has empty unknown parameter: |coauthors= (help)
• "For people who need motivation, this contract has consequences -- for your wallet". Orlando Sentinel. 05/27/2008. Retrieved 2008-06-20. {{cite news}}: Check date values in: |date= (help); Cite has empty unknown parameter: |coauthors= (help)
• Aubrey, Allison (March 6, 2008). "Put Your Money Where Your Girth Is". National Public Radio – Morning Edition. Retrieved 2008-06-20. {{cite news}}: Cite has empty unknown parameter: |coauthors= (help)
• Toland, Bill (February 03, 2008). "Could cash be the key to losing weight?". Pittsburgh Post-Gazette. Retrieved 2008-06-20. {{cite news}}: Check date values in: |date= (help); Cite has empty unknown parameter: |coauthors= (help)

External links

• stickK.com, LLC