Smarter People Take More Risks | Scott H Young - Deepstash
Risk and Uncertainty

People often confuse risk with uncertainty. But the terms "risk" and "uncertainty" do not refer to the same thing.

  • Risk is precise...

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Smarter People Take More Risks | Scott H Young

scotthyoung.com

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  • Risk can be calculated by figuring out the odds.
  • Uncertainties can't be computed. Even if you could do the math, uncertainties don't have an...

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The prospect theory shows that people are often willing to make riskier decisions to avoid losses than to make gains - even when the situ...

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Once you understand a system, you can change some risk into uncertainty. Sometimes you can do this completely, but other times you can limit your range of uncertainties to a calcul...

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Uncertainty hides the risks of our decisions. This makes us tread very carefully. But, in reality, most of the decision terrain isn't nearly so dangerous. Things that l...

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