Present bias is why you’ve made the same resolution for the tenth year in a row, but this time you mean it. You are going to lose weight and forge a six-pack of abs so ripped you can deflect arrows. You weigh yourself. You buy a workout DVD. You order a set of weights. One day you have the choice between going for a run or watching a movie, and you choose the movie. Another day you are out with friends and can choose a cheeseburger or a salad. You choose the cheeseburger. The slips become more frequent, but you keep saying you’ll get around to it. You’ll start again on Monday, which becomes a
...more