it makes sense to devote your effort exclusively to the more rewarding option.
Not in the presence of uncertainty about probabilities and payoffs, and uncertainty is certainly present :-)
The diminishing returns are also there, of course.
measures aimed at increasing the survivability of dangerous situations to be more fun and less financially and hedonically cumbersome than measures aimed at staying out of them
That probably all depends. Advice to not take midnight walks in downtown Detroit isn’t all that cumbersome—avoidance is usually cheap and easy. There are certainly exceptions, though, and training for danger has important side benefits: increased general self-confidence, plus upping the macho factor for guys.
Unless you’re in the habit of packing your own parachutes without training or taking midnight walks in downtown Detroit, avoidance may be easy but it’s certainly not cheap. The middle-class habit of buying homes in the burbs instead of closer to work is perhaps the most obvious and largest-scale avoidance behavior that I can think of, and it’s enormously costly in both money and time.
The middle-class habit of buying homes in the burbs instead of closer to work is perhaps the most obvious and largest-scale avoidance behavior that I can think of
Nowadays that’s driven more by schools than by crime, but in any case the context is relevant—which training for dealing with danger can you offer as an alternative? :-/
I am also not sure it’s costly in money—the market reflects demand and as demand shifts so do prices. If the limited resource that you want is the one everyone wants, it’s always going to be expensive.
Not in the presence of uncertainty about probabilities and payoffs, and uncertainty is certainly present :-)
The diminishing returns are also there, of course.
That probably all depends. Advice to not take midnight walks in downtown Detroit isn’t all that cumbersome—avoidance is usually cheap and easy. There are certainly exceptions, though, and training for danger has important side benefits: increased general self-confidence, plus upping the macho factor for guys.
Unless you’re in the habit of packing your own parachutes without training or taking midnight walks in downtown Detroit, avoidance may be easy but it’s certainly not cheap. The middle-class habit of buying homes in the burbs instead of closer to work is perhaps the most obvious and largest-scale avoidance behavior that I can think of, and it’s enormously costly in both money and time.
Nowadays that’s driven more by schools than by crime, but in any case the context is relevant—which training for dealing with danger can you offer as an alternative? :-/
I am also not sure it’s costly in money—the market reflects demand and as demand shifts so do prices. If the limited resource that you want is the one everyone wants, it’s always going to be expensive.