Risk Taking

It has been commonly observed that individuals live in a dangerous world. Although there have been, and continue to be, advances in public health and economic security, millions of people continue to die from perils, hazards, and conflict. Risk, which is defined as the probability of a ­negative event happening within a given time period, is pervasive in the lives of people, cultures, and economies. Individuals and organizations [Page 1416]confront and participate in multiple risk-taking situations on a daily basis. Risk taking can generally be classified into one of the following domains: social, health/safety, recreational, ethical, and ­economic. People and societies deal with risks in a number of ways. Risks can be minimized, transferred, or avoided. It is also possible to actively engage in risk-taking ...