finance your consumption.This is the kind of consumer in the intertemporal models of Fisher,Franco Modigliani,and Milton Friedman. By contrast,if you face thepull of instant gratification,"you may prefer the account that requires a 30-day notification before withdrawals.In this way.you precommit yourself to not using the funds to satisfy a desire for instant gratification.This precommitment offers a way to overcome the time-inconsistency problem.That is,some people would like to save more,but at a oment,they face such a desire for they always choose to consume rather than save.This is the type of consumer in David Laibson's theory. finance your consumption.This is the kind of consumer in the intertemporal models of Irving Fisher,Franco Modigliani,and Milton Friedman. By contrast,if you face the“pull of instant gratification,”you may prefer the account that requires a 30-day notification before withdrawals.In this way,you precommit yourself to not using the funds to satisfy a desire for instant gratification.This precommitment offers a way to overcome the time-inconsistency problem.That is, some people would like to save more,but at any particular moment,they face such a strong desire for instant gratification that they always choose to consume rather than save.This is the type of consumer in David Laibson’s theory