Many unfortunate human situations unfold [...] where people who face very bad options take desperate gambles… — Daniel Kahneman
Many unfortunate human situations unfold [...] where people who face very bad options take desperate gambles, accepting a high probability of making things worse in exchange for a small hope of avoiding a large loss. Risk taking of this kind often turns manageable failures into disasters.
p. 318Source: Wikiquote · CC BY-SA 4.0
More from this book
disbelief is not an option. The results are not made up, nor are they statistical flukes. You have no choice but to accept that the major conclusions of these studies are true.
There is no evidence that risk takers in the economic domain have an unusual appetite for gambles on high stakes; they are merely less aware of risks than more timid people are.
p. 263
He's taking an inside view. He should forget about his own case and look for what happened in other cases.
p. 254
