Description: Well, how are you doing with those New Year’s resolutions you made a few days ago at the start of 2023? In the featured New Yorker article, originally published in 2013, we read of the somewhat depressing work of John Norcross, a psychologist who found that within six months only 40% had stuck with their resolutions, with the number dropping to 19% after two years. Behavioral economist Katherine Milkman offers us some hope, however, with her notion of “nudges,” little signals that can prompt us toward change. One key factor seems to be setting realistic goals.
Date: January 1, 2023 (originally published December 20, 2013)
1) How many of your classmates have set resolutions for 2023?
2) What do you think you could do to improve your academic results this term? Have you planned any study habit resolutions?
3) Page 10-1 of Wiley’s Managerial Accounting: Tools for Business Decision-Making contains the chapter preview for this chapter. What type of business tool is budgeting?