This paper develops a theory of optimal provision of commitment devices to people who value both commitment and … flexibility, and whose preferences differ in the degree of time inconsistency. If time inconsistency is observable, both a planner … and a monopolist provide devices that help each person commit to the efficient level of flexibility. But the combination …

clarify the concept of financial flexibility. Second, based on literature in microfinance, banking, and behavioral economics …, we summarize the state of knowledge on the trade-off between flexibility and client discipline. Last, we weigh the …

I study the optimal supply of exible commitment devices to people who value both commitment and exibility, and whose …

main issues in life insurance design within a unified framework. We investigate how much flexibility is desirable …. Flexibility is needed to accommodate changing tastes and objectives, but it also gives way to opportunistic behaviors from the …

main issues in life insurance design within a unified framework. We investigate how much flexibility is desirable …. Flexibility is needed to accommodate changing tastes and objectives, but it also gives way to opportunistic behaviors from the …