Re:Missing Titanic Sub Faced Lawsuit over Depths It Could Sa...
by potatolicious on Tuesday June 20, 2023 @05:08PM
(#36410642)
Exactly. The notion that skin in the game decreases risky behavior assumes that everyone is perfectly rational, which is demonstrably untrue. It's a classic "spherical cow" modeling of human behavior.
Overconfidence, hubris, obsession, laziness, envy, spite, and a nearly-infinite list of other "irrational" behaviors are a function of human existence and would cause someone to take stupid risks with both themselves and others!
Re:Missing Titanic Sub Faced Lawsuit over Depths It Could Sa...
by cjbgkagh on Tuesday June 20, 2023 @08:08PM
(#36412549)
No assumption of rationality is necessary, when the people who take the risks suffer the consequences they’re no longer around to take more risks no matter how irrational they are.
I absolutely do not. Pretty much all of the risky decisions I see people make, they seem to be self-harming just as often as they harm others.
To me whether the engineer lives in his own building doesn't tell me anything, because a guy who cuts corners does it because he thinks it's safe to cut corners.
What I want to know is, is the engineer's personality risk-seeking or risk-averse? Are they the kind of person who does things by the book or is always looking to cut corners? Do they value a job well done or do they value speed? These are the things that matter, not their personal tolerance for risk.