The economist RH Strotz introduced the term “precommitment” in his 1955-56 paper “Myopia and Inconsistency in Dynamic Utility Maximization”.
Thomas Schelling started writing about similar topics in his 1956 paper “An essay on bargaining”, using the term “commitment”.
Both terms have been in use since then.
The economist RH Strotz introduced the term “precommitment” in his 1955-56 paper “Myopia and Inconsistency in Dynamic Utility Maximization”.
Thomas Schelling started writing about similar topics in his 1956 paper “An essay on bargaining”, using the term “commitment”.
Both terms have been in use since then.