That’s a lesson we can all learn: the more we have, the more we want. And the only cure is to break the cycle of relativity.

The people who need to overcome temptation to the highest degree have the hardest time doing it.

The real issue is, how much goodwill do you invest in the work? And goodwill is not something that we can buy with money. It's very hard to buy goodwill with money.

Giving up on our long-term goals for immediate gratification, my friends, is procrastination.

We can think about how we reduce the pain in paying. So, for example, credit cards are wonderful mechanisms to reduce the pain of paying. If you go to a restaurant and you are paying cash, you would feel much worse than if you were paying with credit card. Why? You know the price, there's no surprise, but if you're paying cash, you feel a bit more guilt.

In terms of the actual curriculum for management education, my own view is very simple-minded: The world is incredibly complex, it changes all the time, and we should not even hope that we could create a general model that accurately describes the world in all its possible states.

The experiments show quite clearly that, as you resist more and more temptation, you're actually more and more likely to fail.