Precommitments are more general, since they don’t require more than one party, but they are very similar.
Currently, contracts are usually enforced by the government, and there are limits to what can be included in a contract, and the legality of the contract can be disputed.
Precommitments are more general, since they don’t require more than one party, but they are very similar.
Currently, contracts are usually enforced by the government, and there are limits to what can be included in a contract, and the legality of the contract can be disputed.
Binding precommitments would be useful for enabling cooperation in inefficient games: http://lesswrong.com/lw/nv3/inefficient_games/