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Re:Why Don't People Manage Debt Better? by ksdale on Friday February 19, 2016 @01:24PM (#11135380)
You could ask them to buy twice as much food as they normally would every time they go to a restaurant or the grocery store. They can either eat until they feel uncomfortable and gain weight or they can start throwing a ton of food away, either way the utility per dollar spent goes way down past a certain point.

Note that this assumes that you are already able to spend an optimal amount on food.

Re:Why Don't People Manage Debt Better? by dagw on Friday February 19, 2016 @04:08PM (#11136639)
You're assuming that 'food' is a single fungible commodity. Spending twice as much on food doesn't mean buying twice as much food, it could also mean buying better quality food and going to higher quality restaurants. I could easily both double and triple my current food spending without eating more or wasting food.
Re:Why Don't People Manage Debt Better? by squeaky-clean on Friday February 19, 2016 @04:57PM (#11136947)
But taste/enjoyment isn't the only purpose of food. You're doubling enjoyment, but not doubling the utility.

If I gave you the choice of only eating $1 of Cup-Noodles every day for 30 days ($30 total), or one single $300 meal at a high class restaurant, and nothing for 29 days, which is the smarter choice?

Re:Why Don't People Manage Debt Better? by c22 on Friday February 19, 2016 @02:21PM (#11135857)
What if you asked them to buy half as much food? Would their default mode be less than twice as good as starving?
Re:Why Don't People Manage Debt Better? by mjevans on Friday February 19, 2016 @05:30PM (#11137207)
In America, it is actually surprisingly difficult to buy 'half as much food' at many places. Most mid-scale (Approx 10-30 USD/plate) restaurants attempt to convince you the service is worth the price by giving you far too much food (and also not paying their employees enough either; hence tips, which BTW I'd be inclined to stop paying in 'living minimum wage' cities (15+/hr)).