Whether it's highlighted in major news headlines about Argentinean affairs and Ponzi schemes, or in personal battles with obesity and drug addiction, individuals regularly succumb to greed, lust and self-destructive behaviors.

New research from the Kellogg School of Management examines why this is the case, and demonstrates that individuals believe they have more restraint than they actually possess-ultimately leading to poor decision-making.

The research found the sample, on average, displayed a "restraint bias," causing individuals to miscalculate the amount of temptation they could truly handle, in turn leading to a greater likelihood of indulging impulsive or addictive behavior.

"People are not good at anticipating the power of their urges, and those who are the most confident about their self-control are the most likely to give into temptation," said Nordgren. "The key is simply to avoid any situations where vices and other weaknesses thrive and, most importantly, for individuals to keep a humble view of their willpower."

In developing their case, the study's authors cited previous research demonstrating that people often have difficulty appreciating the power of impulsive states. People in a "cold state" (not experiencing hunger, anger, sexual arousal, etc.) tend to underestimate how a "hot," impulsive state will influence their behavior.

Source: Association for Psychological Science