Allison Schrager: An Economist’s Guide to The Psychology of Risk

Today, we're thrilled to share our conversation with Alison Schraeger, an esteemed economist, journalist, and author. In this episode, Allison delves into the complex world of risk, decision-making, and the unpredictable nature of human behavior.

Allison Schraeger is a thought leader in the fields of economics and finance. In this episode, she shares her wisdom on the concepts of idiosyncratic and systematic risk. She discusses how these types of risks impact our daily lives, from the decisions we make in our jobs to the investments we make for our future.

Allison's insights extend beyond the realm of economics. She explores the role of emotions in decision-making, challenging the notion that decisions should be devoid of emotions. Instead, she argues, emotions are an integral part of the decision-making process, influencing our perceptions and actions.

One of the key themes of this episode is the importance of learning from our mistakes. Alison shares her own experiences of risk-taking, highlighting the value of repeated experiences in improving our risk-taking abilities. She encourages listeners to embrace their mistakes, learn from them, and use them as stepping stones towards better decision-making.

This episode also delves into the impact of perceived probability on our behavior. Alison discusses how our perceptions of probability can influence our actions, often leading us to take risks that we might otherwise avoid. She provides practical advice on how to navigate these perceptions and make more informed decisions.

Join us in this enlightening conversation with Allison Schraeger and learn how to better understand and manage risk in your own life. You can find the Unmistakable Creative Podcast on all major podcast platforms. Don't forget to subscribe, rate, and review!

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