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...

Miscellaneous / 26.03.2011

By Anjum Altaf Cricket is emblematic of South Asia. It distinguishes the region qua region from almost anywhere else – East Asia, West Asia, Africa, the Americas, Europe. So at this time when three of the four teams in the World Cup semifinals are South Asian, it is opportune to wrap some thoughts about risk, strategy and design in the metaphor of cricket. In an earlier article (Achievement and Risk-taking) written quite some time back, I had used illustrations from cricket to make the point that the propensity of an individual to take risks is not a function of personality but an outcome of strategic calculation. In other words, individuals are not born with a given attitude towards risk; they can decide when it makes sense to be cautious or bold. I have now found an academic presentation of this perspective. In A Primer on Decision Making, James...

Behavior / 20.06.2010

By Anjum Altaf We are reproducing, with slight changes, an article that discusses popular myths about the behavioral attributes of high-achievers. The objective is to show that some inherent and constant disposition is not a defining variable in achievement. A recent article titled ‘Successful risk-takers’ advised readers to take only moderate risks if they wanted to be high-achievers. Before you follow the advice, imagine that you meet an old high school friend with whom you used to do the most risky things, and you suggest repeating them for old-times sakes. How likely are you to be told that he couldn’t because he was now a respectable married man with a young daughter to care for? If you have experienced the above, or find it plausible, you can conclude that the amount of risk people take depends upon circumstances. And that conclusion can be the starting point of an argument with the theory presented in the article.