A police officer pulls over your vehicle and wants to conduct a “quick” search. Should you let him?
- Actors would like to commit to actions ahead of time to induce cooperative behavior.
- The inability to credibly commit to such actions might lead to a credible commitment problem. The first party takes an uncooperative action because it knows the second party will take an uncooperative action later.
- Commitment problems lead to outcomes that are worse for both parties than another outcome.