Risk and value

A.S.V.I. News 1996 (Spring):4-5 (1996)
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Abstract

Which risks are bad? This is not an easy question to answer in any non-circular way. Not only are risks sought out for various reasons, but risks are plainly discounted in many situations. What may seem "risky" when examined all by itself, may not seem risky when encountered in a real lived situation. Thus risks that are imposed by others, in particular, might seem horrendous when considered in abstraction, but quite acceptable when encountered in life. What we need to do, among other things, is to examine this "seeming." Are people being deluded or distracted when they fail to take seriously the riskiness of activities undertaken by others, or does this make some rational sense? There can be no doubt that people sometimes are deluded, of course. We are all fallible. But risks are not unalloyed evils. They are typically taken because of their association with something positive. So questions about whether people are making wise judgments when they don’t care about certain risks that they take, or, on the other side of the coin, when they become absolutely hysterical when confronted with a risk that appears to others to be insignificant, hinge on a web of further factors.

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John T. Sanders
Rochester Institute of Technology

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