There are dozens of studies showing how far humans will go to avoid uncertainty, forgoing far greater potential payoffs in favor of just knowing what they’re getting right now. Is it actually true that there are dozens? I have no idea. But there’s at least one, which means it’s undeniably true and should never be questioned. For real though, most people will take $20 over a 50% chance of $70—even though the latter is “worth” $35—because of the risk involved. Is that true? Again, I have no idea. But just go with it.
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How to Deal with Uncertainty
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There are dozens of studies showing how far humans will go to avoid uncertainty, forgoing far greater potential payoffs in favor of just knowing what they’re getting right now. Is it actually true that there are dozens? I have no idea. But there’s at least one, which means it’s undeniably true and should never be questioned. For real though, most people will take $20 over a 50% chance of $70—even though the latter is “worth” $35—because of the risk involved. Is that true? Again, I have no idea. But just go with it.