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Dr. Rick Bookstaber - The Psychology of Risk
Dr. Rick Bookstaber - The Psychology of Risk
ratings:
Length:
49 minutes
Released:
Apr 7, 2022
Format:
Podcast episode
Description
Tune in to hear:- How does Dr. Bookstaber think about and define risk in the most practical terms possible?- Does the way people like us talk about risk differ in an overly academic way from how people in the street think about it?- Which of the sort of commonly discussed current risks seem legitimate to Dr. Bookstaber and which might loom larger in peoples’ minds than they should?- Why aren’t geopolitical conflicts more catastrophic to the market than they are with how intertwined the global economy is?- How should we think about a world where you have to take risks to keep up with inflation but where asset prices seem stretched by some measures?- Do we now live in a world that’s high-risk in theory but where governments and regulatory bodies keep the scales from tipping too far in a catastrophic direction? Were the FEDs actions during Covid-19 a singular response for a singular time in history?- How can we be skilled risk managers when we have an asymmetry in the way we weight pessimistic vs. optimistic outcomes?https://fabricrisk.comhttps://www.amazon.com/End-Theory-Financial-Economics-Interaction/dp/0691169012Compliance Code: 0570-OAS-4/5/2022
Released:
Apr 7, 2022
Format:
Podcast episode
Titles in the series (100)
The Joys And Pains Of Comparing Yourself To Others: Let me ask you a question, “Do you like laugh tracks?” Didn’t think so. If laugh tracks are so universally disliked, why do Hollywood executives continue to include them? These executives understand something that we may not; however irksome canned laughter may be, it provides valuable social cues to viewers. Research has repeatedly shown that laugh tracks cause viewers to laugh longer and harder and to rate the viewing experience as more enjoyable. In fact, laugh tracks have been shown to be most effective at improving the appraisals of jokes that are especially bad! We are programmed to do what others are doing, even when those others only exist on tape. Social mimicry is ubiquitous. Panhandlers often salt their tip jars with money from the day before to show that giving is proper behavior and that other people have deemed them worthy of a handout. A beggar with no money in his cup is perhaps more deserving of a dollar, but also by Standard Deviations with Dr. Daniel Crosby