You know how there are moments in class you would probably never forget about. Well, this was one of them. At first I thought I would post it on the ISB Students’ Blog, but then figured it would be slightly inappropriate for that.
Anyway, we have this absolutely amazing professor, Louis Thomas, who teaches us Economics of Strategy, and was trying to explain how commitment works. It was then when he came up with this example. And after that I haven’t been able to think of a better one. Hats off to you Louis! And Meatloaf makes it even more memorable.
PS: For those who were wondering what baseball was doing in the song, read this. And the song is Paradise by the dashboard lights.