scholarly journals Correction to: Age Patterns in Risk Taking Across the World

2019 ◽  
Vol 48 (4) ◽  
pp. 835-836 ◽  
Author(s):  
Natasha Duell ◽  
Laurence Steinberg ◽  
Grace Icenogle ◽  
Jason Chein ◽  
Nandita Chaudhary ◽  
...  
Keyword(s):  
2017 ◽  
Vol 47 (5) ◽  
pp. 1052-1072 ◽  
Author(s):  
Natasha Duell ◽  
Laurence Steinberg ◽  
Grace Icenogle ◽  
Jason Chein ◽  
Nandita Chaudhary ◽  
...  
Keyword(s):  

2021 ◽  
pp. 073112142199004
Author(s):  
Cary Wu

A large literature has suggested that education leads to higher trust. In this article, I argue that how education and trust are associated at the individual level may depend on the level of risk and uncertainty of each institutional setting. Trust involves not only individuals’ risk-taking propensity and capability but also their perception of how uncertain or risky the situation they are in. I test this micro–macro interactive approach by analyzing data from the World Values Survey, the European Social Survey, and the World Bank. Results show that the education and trust association can change from positive to negative both cross-nationally and within national contexts over time in response to the social and political stability at the macro level. In stable and low-conflict societies, the association between education and trust is highly positive. However, the association becomes negative in transitional societies where social and political risks are widespread. Supporting the risk-taking and risk awareness mechanisms underpinning the interactive process, I show that education has varying impacts on risk-taking propensity and risk awareness across different institutional contexts.


2018 ◽  
Vol 35 (7-8) ◽  
pp. 141-156
Author(s):  
David Le Breton

Risk is most often associated with danger and perceived as a harmful aspect of life, as an insidious and unwelcome threat that should be avoided. Risk-taking, however, is sometimes a singular passion, a source of pleasure that becomes a way of life. When freely pursued as a valorised activity, it can be a path to self-fulfilment, an opportunity to confront new situations, and a means for redefining one’s self, testing personal abilities, increasing self-esteem or gaining recognition. Deliberate risk-taking is a form of character building. It accommodates life’s intensities. It is extremely popular in high-risk physical activities and sports and postmodern forms of adventure.


2018 ◽  
Author(s):  
Darla Crispin

As artistic research work in various disciplines and national contexts continues to develop, the diversity of approaches to the field becomes ever more apparent. This is to be welcomed, because it keeps alive ideas of plurality and complexity at a particular time in history when the gross oversimplifications and obfuscations of political discourses are compromising the nature of language itself, leading to what several commentators have already called ‘a post-truth’ world. In this brutal environment where ‘information’ is uncoupled from reality and validated only by how loudly and often it is voiced, the artist researcher has a responsibility that goes beyond the confines of our discipline to articulate the truth-content of his or her artistic practice. To do this, they must embrace daring and risk-taking, finding ways of communicating that flow against the current norms. In artistic research, the empathic communication of information and experience – and not merely the ‘verbally empathic’ – is a sign of research transferability, a marker for research content. But this, in some circles, is still a heretical point of view. Research, in its more traditional manifestations mistrusts empathy and individually-incarnated human experience; the researcher, although a sentient being in the world, is expected to behave dispassionately in their professional discourse, and with a distrust for insights that come primarily from instinct. For the construction of empathic systems in which to study and research, our structures still need to change. So, we need to work toward a new world (one that is still not our idea), a world that is symptomatic of what we might like artistic research to be. Risk is one of the elements that helps us to make the conceptual twist that turns subjective, reflexive experience into transpersonal, empathic communication and/or scientifically-viable modes of exchange. It gives us something to work with in engaging with debates because it means that something is at stake. To propose a space where such risks may be taken, I shall revisit Gillian Rose’s metaphor of ‘the fold’ that I analysed in the first Symposium presented by the Arne Nordheim Centre for Artistic Research (NordART) at the Norwegian Academy of Music in November 2015. I shall deepen the exploration of the process of ‘unfolding’, elaborating on my belief in its appropriateness for artistic research work; I shall further suggest that Rose’s metaphor provides a way to bridge some of the gaps of understanding that have already developed between those undertaking artistic research and those working in the more established music disciplines.


2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Thao Phuong Tran ◽  
Anh-Tuan Le

PurposeThis paper examines how the degree of happiness affects corporate risk-taking and the moderating influence of family ownership of firms on this relationship.Design/methodology/approachThe authors use an international sample of 17,654 firm-year observations from 24 countries around the world from 2008 to 2016.FindingsUsing the happiness index from the World Happiness Report developed by the United Nations Sustainable Development Solutions Network, the authors show that a country's overall happiness is negatively correlated with risk-taking behavior by firms. The findings are robust to an alternative measure of risk-taking by firms. Further analyses document that the negative influence of happiness on firm risk-taking is more pronounced for family-owned firms.Practical implicationsThe paper is consistent with the notion that happier people are likely to be more risk-averse in making financial decisions, which, in turn, reduces corporate risk-taking.Originality/valueThis study contributes to the broad literature on the determinants of corporate risk-taking and the growing literature on the role of sentiment on investment decisions. The authors contribute to the current debate about family-owned firms by demonstrating that the presence of family trust strengthens the negative influence of happiness on corporate risk-taking, a topic that has been unexplored in previous studies.


Author(s):  
Vannie Naidoo

In today's world where the global economy is shrinking and the people of the world are constantly being plaque by recession, natural disasters, poverty and war the youth have to grapple with all these stressful influences. Due to the recession the job markets have become saturated as recession has hit the global economies throughout the world. The youth now are tasked with becoming involved in entrepreneurial activities to survive in these complex world economies. However entrepreneurship is not an easy endeavour. It is not for the faint hearted either. Entrepreneurism involves drive, perseverance, emotional intelligence and risk taking. A way forward for young people is social entrepreneurship as it offers them very viable opportunities within the backdrop of such a volatile economy.


Author(s):  
Walter A. Friedman

Throughout history, and particularly since World War II, American business has held a real and symbolic role in the world economy. The conclusion looks at the reasons behind this: an intermittently regulated business environment; a focus on innovation and regeneration and a comparative lack of stigma attached to failure; and the “American Dream” of democratic entrepreneurship, which has attracted new people and perspectives throughout history. While social and economic freedom is inaccessible to many, the idea of it has been a powerful incentive to encourage risk-taking people, from both America and around the world, to pursue opportunities in America—and enough have succeeded there to encourage others.


2011 ◽  
Vol 216 ◽  
pp. F4-F9 ◽  
Author(s):  
Ray Barrell ◽  
E. Phillip Davies

The financial crisis that engulfed the world in 2007 and 2008 has led to a wave of re-regulation and discussion of further regulation that has culminated in the proposals from the Basel Committee as well as those in the Vickers Committee report on Banking Regulation and Financial Crises. This issue of the Review contains a number of papers on Banking Regulation, covering many aspects of the debate, and we can put that debate in perspective through these papers and also by discussing our work on the relationship between bank size and risk taking, which is reported in Barrell et al. (2011). We addressed the causes of the crisis in the October 2008 Review, and began to look at the costs and benefits of bank regulation in Barrell et al. (2009). In that paper we argued that we needed to know the causes of crises and whether the regulators could do anything to affect them before we discussed new regulations. It is now generally agreed that increasing core capital reduces the probability of a crisis occurring, and most changes in regulation that are being discussed see this as the core of their toolkit. The work by the Institute macro team in Barrell et al. (2009) and in Barrell, Davis, Karim and Liadze (2010) was the first to demonstrate that there was a statistically important role for capital in defending against the probability of a crisis occurring, and our findings were widely used in the policy community in the debate over reform.


2020 ◽  
pp. 089124162094824
Author(s):  
Benedict E. Singleton

This article explores the world-building activities of players of the tabletop game Blood Bowl—a game that parodies American Football within a fantasy setting. It utilizes a ritual framework to focus on players’ activities relating to the considerable amount of luck inherent to the game. Based on fieldwork and survey data, it interprets players’ rituals and other actions as an effort to enact a particular social space, a “magic circle,” where enjoyable risk-taking and “edgework” take place. This social space is then analyzed within the Mary Douglas-derived theory of sociocultural viability (cultural theory). Using the theory’s typology, Blood Bowl tournaments can be characterized as individualist–hierarchy hybrid institutions. The article contributes by offering cultural theory as a tool for analyzing and comparing risk-taking behavior in diverse social contexts. The worlds built through Blood Bowl play are both analyzable and comparable with those integral to other social institutions, with cultural theory’s social solidarities ubiquitous. The article thus innovates by linking literatures on leisure and gaming with broader social theory.


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