Most of my friends are risk-averse. i (try)to explain what i do, my passion;they have zero interest. "i'd never do that"..is the refrain 1 out of 100 expresses interest
I think its evolutionary more than anything, if you took big risks back in the hunter gatherer days you would have gotten eaten by a lion or something. If you played it safe and farmed for food instead of taking on big game you would survive hence your genes passed down. Studies have shows that psychopaths through no fault of there own have little fear and are inclined to take big risks. I wonder if Ted Bundy would have made a good trader This is biology something we can't change, some really are inclined to take big risks. If you ask 100 people on the street if they would bet 10$ with a 60% chance of winning 10% maybe 5% of people would do it.
you can say that, but you can't know that. genes influenced by learning(environment)surely. but genes rule.
There was nothing safe about farming for food. Which is why people banded together for mutual defense and protection and usually depended on someone more militaristic to envelop them in a physical envelope, such as a walled city. Those who went it alone out in the boonies were low-hanging fruit.
"Development" has to do with how the biological organism develops absent environmental influence, not just how it's modified by its environment.
Ok, basically agree. but would you grant me this, sociopaths/psychopaths have greater tolerance for risk? yes, or no? i'm talking in dependent of your 'bank acct'..not talk7ng good money management here..risk only 1% blah blah i mean ALL IN
I have known identical twins who have different risk tolerances. Evolutionary behavior may have an influence but doesn't explain people from the same family or household having different disposition as regards to risk and decision making. Blaming something on some far off external or internal factor that can't be changed is a 'cop out'. It gives an escape route as @Baron wrote it above to not take responsibility. Fear of failure keeps many from attempting a change so as to avoid that very fear to come true and face the reality that they can't do something.