Limited liability effect thinks that companies of the high debt level will be implemented tough market competition; the debt can play a strategic effect as commitment device.

有限责任效应认为，高负债水平预示着企业将要实施强硬的市场竞争行为，债务作为承诺装置能够发挥战略作用。

youdao

A Groupon is also a commitment device: it's a way of forcing yourself to do something you really want to try at some point, but something you know you might otherwise never get around to.

团购同时是一种承诺工具：它会迫使你尝试那些心中觊觎、但可能永远不会去尝试的东西。

youdao

Groupon is also a commitment device: it's a way of forcing yourself to do something you really want to try at some point, but something you know you might otherwise never get around to.

团购同时是一种承诺工具：它会迫使你尝试那些心中觊觎、但可能永远不会去尝试的东西。

youdao

In undergraduate economics classes this is called a commitment device.

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