Reports that research on problem-solving demonstrates there are
better ways to discover and measure risk. J. Frank Yates' book
'Risk-Taking Behavior'; Basic rules to consider; Importance of involving
others in your decision; Simulating the risk; Importance of talking to
experts and reading books on the subject; Being aware of emotional
factors.
By
PT Staff, published on September 01, 1992
DIFFICULT DECISIONS
WHEN IT COMES to taking risks, most of us would rather have gum
disease. And that's probably a good thing.
"The average person has problems identifying potential risks and
deciding how likely they are to occur," declares J. Frank Yates, Ph.D. In
addition, most of us overestimate the value of our own Judgment In
matters of common knowledge. "On goner-al is. sues, we assume we are
d&-and often are not," observes the University of Michigan professor
of psychology.
Editor of a book called Risk-Taking Behavior, Yates assigns part of
the blame to the "working register" in the brain. It can accommodate only
a few ideas at one time. Once an Idea has been generated, there's limited
space left to calculate risks.
And that explains why we're so quick to react to the risks of
others' ideas while seemingly Ignoring our own. Ideas genera" by others
do not take up prime real estate inside our brains. Research on
problem-solving demonstrates them are ways to discover and measure risk
well without succumbing to anxiety in the process Yates Identifies the
pitfalls to avoid and rules to follow:
o One basic rule is to consider all possible risks of an endeavor
ever several occasions, taking notes each #me. Involving others in your
decision is also beneficial, as individuals working alone will produce
far fewer solutions to a problem, and will underestimate how many ideas
they overlooked.
o Simulate the Risk Rent a car or house before actually buying one;
volunteer or intern for a new Job to see if it suits you; monitor classes
before enrolling in a program. Talking to experts and reading books on
the subject isn't a bad idea, either. Above all, Yates says
prophetically, "Know thyself. Be aware of the emotional factors that
affect how we estimate risks."
The plain fact is if we want something bad enough, we'll be willing
to risk an awful lot to get it-rationalizing our behavior and downplaying
the chances of our getting hurt in the process. And how's this for the
male ego: men are more likely to believe that if they play a role in the
risky activity, everything will somehow turn out okay.
Illustration: (LISA STE INBERG)
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