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Dean Karlan On How To Achieve New Year's Resolutions (VIDEO)

First Posted: 12/31/11 10:40 AM ET Updated: 12/31/11 10:43 AM ET

Making New Year's resolutions? At the website Stickk.com, people set a goal in a specific a time frame and sign a commitment contract that binds them to meeting it.

Then they pick an incentive -- an amount of money or social penalty they will have to pay if they fail -- and a "referee" to monitor their progress and verify their success.

The site was co-founded by Yale University economist Dean Karlan, who has studied how people keep commitments. He talks with Huff/Post50's Laura Rowley about the best ways to keep New Year's resolutions.

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Filed by Laura Rowley  |