Financial Independence

April 26, 2017

Don’t Risk What You Have and Need for What You Don’t Have and Don’t Need

Game theory exhibits again and again that people are risk-averse to their detriment. We value a bird in the hand rather than two in the bush, beyond what makes mathematical sense. The common theories associated with this conclusion typically adhere to a Darwinian explanation whereby excessively daredevil-minded forefathers hurt themselves […]