[Related to Solved Problem 10.4 on page 330] In an article in the Quarterly Journal of Economics, Ted O’Donoghue and Matthew Rabin make the following observation:

“People have self-control problems caused by a tendency to pursue immediate gratification in a way that their ‘longrun selves’ do not appreciate.” What do they mean by a person’s “long-run self ”? Give two examples of people pursuing immediate gratification that their long-run selves would not appreciate.

Based on Ted O’Donoghue and Matthew Rabin, “Choice and Procrastination,” Quarterly Journal of Economics, February 2001, pp. 125–126.