Question
We all have risk preferences, and age is one of them. There are risk-avoiding, risk-neutral, and risk-seeking individuals. It's possible to be risk-avoiding in one
We all have risk preferences, and age is one of them. There are risk-avoiding, risk-neutral, and risk-seeking individuals. It's possible to be risk-avoiding in one aspect of your life and risk-seeking in another.
I will say it is possible to be risk-avoiding in one aspect of your life, and in particular, people tend to be very risk-avoiding when it comes to health and health issues because if you say lose a limb, that is it. There also goes your income-earning potential, quality of life, etc. In contrast, they can be risk-seeking in other aspects of their life, such as entertainment or things like that, because that carries a much lower impact. Still, having both simultaneously is not inflicting because they're different aspects of your life.
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