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Reasonable Risk-Taking in Everyday Life

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Understanding Risk-Taking

Part of the book series: Critical Studies in Risk and Uncertainty ((CRSTRU))

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Abstract

Risk-taking implies uncertainty and possibly disastrous outcomes. This chapter explores the different ways how people manage such uncertainties when taking risks. Following a modernist world view, it starts with distinguishing instrumental rationality from so-called non-rational strategies such as hope, ideology and faith and shows that both are efficient ways to manage uncertainty. Furthermore, it introduced the notion of in-between strategies such as trust, intuition and emotions and discusses their value in everyday risk-taking. The chapter concludes that in everyday life, all these strategies combine in complex ways in reasonable ways of risk-taking.

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Notes

  1. 1.

    Indeed, we will see that emotions are referred to in every decision. However, they can play different roles in risk-taking. They are not always dominant in shaping risk-taking.

  2. 2.

    It is an important question under which social conditions there is opportunity to build confidence and which conditions prevent people from building confidence.

  3. 3.

    Compare also Kahneman (2011) who provided an authoritative account of the combination of cognitive and emotional parts of the brain in decision-making.

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    Jens O. Zinn

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Zinn, J.O. (2020). Reasonable Risk-Taking in Everyday Life. In: Understanding Risk-Taking. Critical Studies in Risk and Uncertainty. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-28650-7_8

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  • DOI: https://doi.org/10.1007/978-3-030-28650-7_8

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  • Publisher Name: Palgrave Macmillan, Cham

  • Print ISBN: 978-3-030-28649-1

  • Online ISBN: 978-3-030-28650-7

  • eBook Packages: Social SciencesSocial Sciences (R0)

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