The Psychology Of Risk-Taking And How To Control It

There are some people who are more prone to taking risks than others, and this is influenced by not just behavior, but also personality. General risk-takers possess personalities which are a result of both genes and experience. Even though they tend to often put themselves in danger, they highlight a human trait which is essential to us all to survive as a species. This trait can be termed as sensation-seeking. It can be defined as the need to seek out a new and exciting experience and be willing to do anything for said experience.

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Financial Risk Taking

Financial risk-taking is one of the most common methods of taking risks. People gamble away their money in hopes of possibly making more. Although it is tempting, ultimately it relies on probability where losing everything is still an option. Most risk-takers are so focused on change, excitement, and novelty which come from taking a risk that they are willing to engage in activities that do not offer certainty.

For example, a lot of risk-taking behavior can be seen in investing money in the stock market. The rise and fall of the market depend significantly on chance. In addition, even though betting in sports is usually associated with very low odds, sports betting is one of the biggest industries today. It is true that betting on the outcome of sports can sometimes rely on solid numbers, but usually, it is based on a hunch. Studies have shown that sports betting psychology is more likely related to heredity rather than a semblance of any form of certainty.

Physical Action As A Form Of Risk Taking

Sensation-seeking comes in various forms, and the thrill of adventure is a way in which some of us display risky behavior. Extreme sports pose a risk to one’s health and well-being, but there are several companies and even travel destinations which focus on such activities. The only reason why the extreme sports market thrives is that there are risk-takers who demand its supply.

It is known that risk-taking causes real changes to the brain. Adrenaline and dopamine are notable releases when it comes to taking any kind of risk, but especially with physical action.

Risk Taking Influenced By Boredom

Those who enjoy sensation-seeking often do so because they are looking for a change for change’s sake. This can be thought of as boredom susceptibility. Frequently participating in self-sabotaging behaviours such as drinking, drugs, reckless driving, and unprotected sex can be seen as a need to break the monotony. People who constantly take risks are less likely to show traces of anxiety or neuroticism.

However, some psychologists have suggested that reckless driving can also be seen as antisocial, which could point to a latent feeling of aggressiveness and hostility. The other cases of deviant conduct such as drugs and drinking, which is usually done in a social setting, could suggest that much of risk-taking behavior is also influenced by environment. Adolescents take risks that are dependent on their peers, and this has little to do with inherent nature. Engaging in environment-based risky behavior as an adolescent has negative consequences later in life.

How To Control Risk Taking

It is evident that people take risks for a variety of reasons. In small doses, risk-taking can actually be beneficial for your mental health and well being. Unforeseen opportunities can come out of risk-taking. Since those who engage in risky behavior display lower levels of anxiety, sometimes taking risks can make you more confidence and helps you stand out from the crowd.

On the other hand, frequently taking risks can lead to more harm than good, no matter how great it might feel. The odds are generally not in your favor, and one accident related to extreme sports or drug use can cause a serious impact for the rest of your life. This is why it is important to consider how to control recurrent risky behavior.

Think before you act: Analyse the potentially risky behavior that you are about to engage in and consider the consequences that might come out of it. Predicting results could make you change your mind or modify your activity to better accommodate your safety.

Preparation: Taking risks can build your confidence, but so can rehearsal. Rehearsing before conducting an important but risky activity can improve your impulse control and prepare you for what’s to come.

Therapy: If your sensation-seeking lifestyle becomes an obstacle that stops you from doing simple or daily tasks, one of the best possible solutions is to seek help. Taking risks is  You will be able to better analyze yourself and understand why you might behave the way you do, which in turn could help you in avoiding future risks.

Prioritizing: It is a bad idea to take many risks at once because it is impossible for all of them to yield good results. If there are risks that you absolutely have to take, consider in what order you should take them for the best outcome. The one which is least on certain should ideally be at the bottom of your list.

Not all risk is negative, and risk-taking should in no means be completely avoided. When controlled effectively and managed well, taking risks may not eliminate loss, but it will definitely reduce them. Success in life is dependent on setting effective goals, and controlling risk is one way of implementing those goals.

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IMAGE: PEXELS