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Chapter 13. Economic Lens > Your Risk-Taking Bias

Your Risk-Taking Bias

Evaluate your personal orientation to risk seeking and risk-aversion. Research suggests that individuals in each orientation tend to display similar characteristics as outlined below.

Risk seekers tend to: Risk avoiders tend to:
Underrate uncertainties Overrate uncertainties
Be overly optimistic Be overly pessimistic
Enjoy the excitement of the unknown Prefer comfort and security
Overrate or exaggerate probability of realizing desired outcomes Underrate or ignore probability of realizing desired outcomes
Decide impulsively Postpone decision-making or close the opportunity door too quickly
Motto: Nothing ventured, nothing gained Motto: Better safe than sorry



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