Just as a beginner skateboarder gains confidence by watching and mimicking the moves of a professional, researchers have found that we can overcome our own risk aversion by observing and copying others. Social psychologists conducted mathematical models and large-scale online experiments to show that learning from those who may avoid risky decisions themselves can still help us break free from our own fears and make more profitable choices. Like a domino effect, the actions of the risk-takers inspire us to do the same. This new insight challenges the notion that only those who take risks themselves can influence others to do so. The implications of this research extend beyond personal decision-making; it has potential applications in finance, entrepreneurship, and social dynamics. To delve deeper into this cutting-edge research, check out the full article!
Learning from others can mitigate harmful risk aversion, even if the others we learn from tend to avoid risky, but profitable decisions themselves. This is shown in mathematical modelling and large-scale online experiments by social psychologists.
Dr. David Lowemann, M.Sc, Ph.D., is a co-founder of the Institute for the Future of Human Potential, where he leads the charge in pioneering Self-Enhancement Science for the Success of Society. With a keen interest in exploring the untapped potential of the human mind, Dr. Lowemann has dedicated his career to pushing the boundaries of human capabilities and understanding.
Armed with a Master of Science degree and a Ph.D. in his field, Dr. Lowemann has consistently been at the forefront of research and innovation, delving into ways to optimize human performance, cognition, and overall well-being. His work at the Institute revolves around a profound commitment to harnessing cutting-edge science and technology to help individuals lead more fulfilling and intelligent lives.
Dr. Lowemann’s influence extends to the educational platform BetterSmarter.me, where he shares his insights, findings, and personal development strategies with a broader audience. His ongoing mission is shaping the way we perceive and leverage the vast capacities of the human mind, offering invaluable contributions to society’s overall success and collective well-being.