study of risk preferences

[nathaniel 0]

I just found this study about factors correlated with risk-loving behaviours: height, sex, wealth, parental education, &c.

summary.

full study

Fascinating.

My advice is to do what your parents did; get a job, sir. The bums will always lose. Do you hear me, Lebowski?

[cabbage 0]

Fascinating! Not for me. It's mostly about Economic/financial risk taking and in my opinion does little to address racial regional ethnic and many other differences. It has no relevance to skydiving and it bored me shitless.

Just my opinion but maybe it'll prevent someone else wasting time reading it.

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We're a' just machines for makin' shite.

[TFFTM 1]

Agreed.
It does not show any correlation between financial risk taking and physical risk taking. (Yawn)

[Scoop 0]

Haha, dont think ill even bother reading it then

[nathaniel 0]

Quote

It does not show any correlation between financial risk taking and physical risk taking

I suppose driving, healthcare and playing sports have nothing to do with physical risks in your world.

For the rest of us there are a couple of relevant points to take away from the article.

On average
* women are more risk averse than men
* older people are more risk averse than younger people
* shorter people are more risk averse than taller people

These are things to keep in mind as a starting point when a random person asks you what canopy they should buy, whether they need an aad, etc. Certainly not the answer for everybody, but a good place to start a discussion about a person's preferences.

Cheers

My advice is to do what your parents did; get a job, sir. The bums will always lose. Do you hear me, Lebowski?

[cabbage 0]

Quote

These are things to keep in mind as a starting point when a random person asks you what canopy they should buy, whether they need an aad, etc. Certainly not the answer for everybody, but a good place to start a discussion about a person's preferences.

How much money someone would risk on a fictional lottery etc has nothing what so ever to do with recommending a canopy to someone. Neither should Gender, Height etc be a high priority. Experience, discipline and many other factors are MUCH more important.

Among the highest financial risk takers I've met have been Asian.Chinese in particular are the biggest gamblers I know, and not meaning any disrespect they are not generally the tallest people. Going by your rule of thumb what canopy do you recommend to a 5 foot 4 inch Chinese man with a fondness for betting on horses?

Driving healthcare sports etc have little or no relevance either. So under 20's in Germany are the least likely to be involved in a road traffic accident!?! Well I can tell you here in Scotland under 20's are among the highest at risk. So by your reasoning you'd recommend different canopies to a young German and a young Scot based on driving statistics?

In my opinion this report has nothing whatsoever to do with the "Safety and Training" forum. I fail to see why Nathaniel you think it does.

A word of advice to anyone like me who's tempted to read this thinking it was relevant to Skydiving. Don't bother!

Cabbage

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We're a' just machines for makin' shite.

[TFFTM 1]

"These are things to keep in mind as a starting point when a random person asks you what canopy they should buy, whether they need an aad, etc. Certainly not the answer for everybody, but a good place to start a discussion about a person's preferences.
"-Nathaniel

Why would I keep that article in mind when recommending a canopy or AAD. I would look at the individuals actual performance and experience not some study in financial risk taking to determine what my recommendation will be.

BSBD
Home of the Alabama Gang

[nathaniel 0]

Quote

I would look at the individuals actual performance and experience not some study in financial risk taking to determine what my recommendation will be

It's not a choice of one vs the other. One of the things that the paper addresses is the correlation of financial risk taking with other types of risk taking. It's certainly not the last word on the subject, but it was insightful to me.

[podium]
There's an attitude on display here, in this thread and in this forum, that skydiving is different from all other human endeavors, and that knowledge from other disciplines is not applicable to skydiving. That's a safety risk in itself.
[/podium]

My advice is to do what your parents did; get a job, sir. The bums will always lose. Do you hear me, Lebowski?

[RumBum 0]

So what is the answer to the researcher's final question: 'Are people who are satisfied more optimistic because they are satisfied and thus more ready to take risks? Or is someone who is not afraid of risks a person who takes their life into their own hands and shapes it the way they want to?'

You can answer it as relevant to skydiving, not financial affairs, since this is a skydiving forum after all.

For myself, I am happy because I skydive and have fun with life. I have been unhappy in the past with a very sedentary life, so I choose option #2.

[chuteless 1]

The greatest risks are those that IF you win, you are alive.

Sometimes, you can get badly busted up....but you'll heal...so you still won.

Sometimes you get killed....and if your life has been on the right track....you'll end up a winner anyhow...but not on this earth.

I like taking a risk, and making it riskier...thats when the fun really begins, and if you don't win, I wouldnt (be around to) give it a second thought.

If you win....its a great rush of adrenylin.


Bill Cole