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Puneet Rakheja

Director, WHITEandBLACKandRED

TEDCRED 50+

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Risks are important. But how do you decide which ones are worth taking and when to be more calculative.

Risks are at the end just that... risks.. with a substancial probability of failure. Mostly everyone likes to believe they take risks in their own lives.. but we all have a degree of what we consider risks.. 'calculative risks' and a degree of intuition. Like i could take risks in careers and lifestyles, but not physical risks.
What process do you use to figure when to follow your heart and when to follow your brain and how to balance the two..

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  • May 31 2011: The decision to take a risk involves the basic opportunity cost involved in every choice: i.e the gain and loss chart for each of the options. I would definitely say that the future of a decision lies in the regret factor associated if we take/dont take the risk. The important thing is evaluating the regret associated, not the risk. If we realize that the regret associated is not a trade-off for abstaining from the risk, we should take the risk. Studying what I gain or what I lose is an approach to pacify the brain, not the heart. Reason is not something that goes along with the heart. For the heart we need to evaluate our feeling towards a decision, hence we approach the regret associated with a decision. If we see that the regret we experience if we take a risk(if the risk turns out fruitful) is at a higher degree than the happiness associated if we dont take the risk (the risk is not fruitful), we should take the risk and vice-versa.

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