An Introduction to Personal Growth Bets: Using Contract Law to Lose Weight and Quit Smoking

Authors

Max Raskin, New York University School of Law
Jack Millman, New York University School of Law

Document Type

Article

Abstract

Self-improvement is hard. Whether losing weight or quitting smoking, individuals have a difficult time honoring their commitments, especially if the only person they are disappointing is themselves. In this Article, we introduce a new legal mechanism for incentivizing personal growth. We describe this mechanism as a personal growth contract, which allows an individual to make an enforceable agreement with either a counterparty or himself with the aim of self-improvement. We propose the use of smart contracts to help execute unilateral personal growth contracts. Our conclusion is that personal growth contracts should be presumptively legal, provided they do not violate some otherwise applicable public policy or law.

Recommended Citation

Max Raskin & Jack Millman, An Introduction to Personal Growth Bets: Using Contract Law to Lose Weight and Quit Smoking, 4 Notre Dame J. on Emerging Tech. 1 (2023).