Standard economic theory implies that we maximize our happiness if we have more choices. Yet we limit our choices — impose self-control mechanisms — voluntarily in order to improve our well-being. For example, I just signed a book contract with a small advance payment.

I don’t need the extra money right now, but having taken the advance payment I know I’ll feel guilty if I don’t finish writing the manuscript by the contract deadline. So while the contract limits my freedom, I’ve chosen to limit my freedom of choice.

I’m being manipulative, but I’m also manipulating myself and limiting my own choices. This kind of apparently restrictive behavior is everywhere — it’s the way we control urges that we know we shouldn’t indulge.