People are generally not all that happy about risk. As Nobel Prize-winning psychologist Daniel Kahneman has written, “For most people, the fear of losing $100 is more intense than the hope of gaining $150. [Amos Tversky and I] concluded from many such observations that ‘losses loom larger than gains’ and that people are loss averse.”
The Hidden Danger of Being Risk-Averse
In times of crisis, sometimes even the most prevention-focused can crack — at great cost.
July 02, 2013