My point, with this, is that everybody is risk-averse and everybody has a time preference.
From what I understand this applies to most people but not everyone, especially outside of contrived laboratory circumstances. Overconfidence and ambition essentially amount to risk-loving choices for some major life choices.
From what I understand this applies to most people but not everyone, especially outside of contrived laboratory circumstances. Overconfidence and ambition essentially amount to risk-loving choices for some major life choices.