Daniel Goldstein: The battle between your present and future self

The video discusses the story of Odysseus and the Sirens as an example of a commitment device, a strategy to resist temptation by binding oneself to a decision made with a cool head. It explores the concept of two selves: the present self, which seeks immediate gratification, and the future self, which desires long-term benefits. The video highlights the challenges of using commitment devices, such as the constant reminder of lacking self-control and the ability to weasel out of them. It also introduces tools to help people visualize their future financial selves and make better saving decisions.

What new insight or understanding did you gain from this video?