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== History == |
== History == |
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stickK was started by |
stickK was started by [[Yale University]] economics professor [[Dean Karlan]]. The concept is based on behavioral economics research and Karlan's personal experience losing weight in graduate school.<ref name="npr">{{cite news|url=http://www.npr.org/templates/story/story.php?storyId=87931325|title=Put Your Money Where Your Girth Is|last=Aubrey|first=Allison|date=2008-03-06|publisher=NPR|accessdate=2008-12-23}}</ref> Karlan recruited Ayres, an economist and contract law professor at Yale, and the the two professors recruited Jordan Goldberg, then a student at the [[Yale School of Management]], to build the company.<ref name="nysun">{{cite news|url=http://www.nysun.com/business/how-yale-professors-lose-weight/|title=How Yale Professors Lose Weight|last=Pantin|first=Travis|date=2007-11-23|publisher=New York Sun|accessdate=2008-12-23}}</ref> |
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According to Goldberg, users who put money on the line and have a referee tend to do best. 78% of these users achieve their goals, as compared to only 35% who put no money down.<ref name="bostoncom" /> [[Steven Levitt]], co-author of ''[[Freakonomics]]'', wrote about and approved of the website and its concept.<ref name="nytimes-levitt" /> |
According to Goldberg, users who put money on the line and have a referee tend to do best. 78% of these users achieve their goals, as compared to only 35% who put no money down.<ref name="bostoncom" /> [[Steven Levitt]], co-author of ''[[Freakonomics]]'', wrote about and approved of the website and its concept.<ref name="nytimes-levitt" /> |
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Revision as of 00:47, 22 February 2010
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| Type of business | Private |
|---|---|
| Founded | New Haven, Connecticut, United States |
| Headquarters | , |
| Founder(s) | Dean Karlan Ian Ayres Jordan Goldberg |
| URL | http://www.stickk.com |
stickK.com is an American Internet start-up company that enables users to make commitment contracts in order to reach their personal goals.
Service
stickK users set up a "commitment contract" where they agree to achieve a certain goal, such as losing weight, exercising more, quitting smoking, or conserving energy.[1] They sign a legally binding contract that will send their money to third parties, including either individuals or a number of organizations and charities.[2] Each user can pick their own charity to donate to, which includes charities that they hate,[1] referred to as "anti-charities."[3][4]
The site also allows for referees - people selected by the user to help monitor the progress of their contract. When a user submits a report to the website, the referee is asked to confirm the accuracy of the report. Users are also allowed to designate other users and friends. Such people, known as supporters, receive emails about the users' progress.
History
stickK was started by Yale University economics professor Dean Karlan. The concept is based on behavioral economics research and Karlan's personal experience losing weight in graduate school.[5] Karlan recruited Ayres, an economist and contract law professor at Yale, and the the two professors recruited Jordan Goldberg, then a student at the Yale School of Management, to build the company.[6]
According to Goldberg, users who put money on the line and have a referee tend to do best. 78% of these users achieve their goals, as compared to only 35% who put no money down.[7] Steven Levitt, co-author of Freakonomics, wrote about and approved of the website and its concept.[2]
According to Karlan, the company's name comes from 'stick'ing to it, and the second K is the legal shorthand for a contract.[8] It also refers to carrot and stick.[7]
![[icon]](/wiki/File:Wiki_letter_w_cropped.svg){kind=small} | This section needs expansion with: Basic company data (date of foundation, number of employees, revenue & profits, business model). You can help by adding to it. (June 2008) |
References
- ^ a b "Carrot and stickK". The Economist. 2008-02-07. Retrieved 2008-12-23.
- ^ a b Levitt, Steven D. (2008-01-21). "StickK To Your Commitments - Freakonomics Blog". New York Times. Retrieved 2008-12-23.
- ^ Hood, Duncan (March 2008). "Self-help: How to buy a will of iron". MoneySense. Retrieved 2008-12-23.
- ^ "stickK - FAQ". Retrieved 2008-12-23.
- ^ Aubrey, Allison (2008-03-06). "Put Your Money Where Your Girth Is". NPR. Retrieved 2008-12-23.
- ^ Pantin, Travis (2007-11-23). "How Yale Professors Lose Weight". New York Sun. Retrieved 2008-12-23.
- ^ a b Schweitzer, Sarah (2008-04-15). "A Web contract for personal goals". The Boston Globe. Retrieved 2008-12-23.
- ^ Sittenfeld, Linda R. (2008-03-11). "StickK.com: Take a Contract Out On Yourself". CNBC. Retrieved 2008-12-23.