Behavior / 22.02.2015

By Anjum Altaf in Economic and Political Weekly My professional life has involved study of the attitude of individuals towards risk and it is this perspective that I employ to reflect on some aspects of the Charlie Hebdo affair. My interest in the subject emerged in graduate school when I found it increasingly difficult to reconcile the idealized behavior described in Western textbooks of economics with actual behavior I had observed in South Asia. My conclusion was that context mattered much more than acknowledged, followed very quickly by the realization that context was not constant. One implication was that attitude towards risk was not a genetic trait – people were not born risk averse or risk preferring – but a behavioral response to specific contexts. I became convinced of this when my thesis adviser mentioned all the radical things he would do once he was awarded tenure. Not only...