The Willpower Instinct: How Self-Control Works, Why It Matters, and What You Can Do To Get More of It

PUTTING THE FUTURE ON SALE
One way to look at the results of the chimpanzee-human matchup is like an economist. The
chimpanzees acted much more rationally, despite having brains one-third the size of their human
competitors’. The chimpanzees expressed a preference (six is better than two) and then acted on it.
They maximized their gains with very little personal cost (a mere 120 seconds’ delay). The humans’
choices, on the other hand, were irrational. Before the challenge began, they clearly stated that they
preferred six treats to two. But as soon as they had to wait two minutes to triple their snacks, their
preferences reversed more than 80 percent of the time. They deprived themselves of what they really
wanted for the fleeting satisfaction of a quick fix.
Economists call this 
delay discounting
—the longer you have to wait for a reward, the less it is
worth to you. Even small delays can dramatically lower the perceived value. With a delay of just two
minutes, six M&M’s became worth less than two immediate M&M’s. The value of each M&M shrank
as it became more distant.
Delay discounting explains not just why some college kids took two M&M’s instead of six, but
why we choose immediate satisfaction at the cost of future happiness. It’s why we put off paying our
taxes, choosing peace of mind today at the price of panic on April 14 or financial penalties on April
16. It’s why we use today’s fossil fuels without regard to tomorrow’s energy crisis, and load up our
credit cards without giving a thought to the crushing interest rates. We take what we want when we
want it (
now
), and we put off until tomorrow whatever we don’t want to face today.
UNDER THE MICROSCOPE: HOW ARE YOU
DISCOUNTING FUTURE REWARDS?
For your willpower challenge, ask yourself what future rewards do you put on sale each time
you give in to temptation or procrastination. What is the 
immediate
payoff for giving in? What is
the long-term cost? Is this a fair trade? If the rational you says, “No, it’s a lousy deal!” try to
catch the moment you reverse your preferences. What are you thinking and feeling that lets you
put the future on sale?

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