Risk Tolerance & The Workplace
So let's think a little bit about about risk tolerance for a second. Okay, um, now, the notion of risk is actually kind of interesting one, and our world is full of psychological risks. There are two kinds of risks. If you if you look at the people who study risk economists and decision theorists, there are two kinds of risks, one of which is uncertainty and the other of which is ambiguity. So we talked about several other dimensions now to really expand on our understanding of personality. So we'd started with those big Five dimensions. We added to that need for cognition and need for closure. How much do you really need to think about stuff? How much how likely are you to exist in that thinking mode rather than that doing mode? We talked a little bit about narcissism. How much do you really draw your self esteem and the energy that goes into that from the people around you? We'd like to be sort of in the middle of that and not at the extreme. And finally we talked a little bit a litt...
le bit about risk, tolerance. To what degree can you operate effectively in an environment in which the outcome isn't that well understood. And, you know, again we'd like to be in a situation in which we aren't paralysed by risks, but in which we have probably aren't throwing ourselves headlong into trains. Either we'd like to be sort of in the middle there and that. And so if we find that were paralyzed by risk, are there things that we can do to minimize some of that ambiguity and to give ourselves a little bit more confidence to engage in situations where the outcome is uncertain? And if we tend to throw ourselves headlong into risk, maybe it would be useful to tether ourselves to someone else who's a little bit calmer to keep us from going off the edge.