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Risk Intolerance, Monkey Bites, And Why You're Irrational

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While his latest travels take him to Bali, Grant ends up at the monkey forest where, unsurprisingly, he meets a few monkeys and learns a few lessons about inter-species relationships (hint: not everyone likes too much eye contact); then a visit to the doctor is in order and becomes a mathematical life or death situation where a statistically minuscule chance of getting rabies is rationally comprehended but emotionally adverted when Grant doesn’t feel like dying; a few days later the drama continues and becomes a sunken cost problem, when perhaps it would be better to let go of the losses and just not care about the subsequent rounds of shots, but the whole “not wanting to die” thing persists. Grant is still alive, podcasting about rational and emotional decisions, sunken costs and how those emotions come to play in your business decisions.

 

Like the show? Comments or questions, email Grant

 

Listen to this episode to find out:

  • The correct approach to meeting a monkey
  • How your body language is important in a social context
  • How eye to eye contact is reserved for human interactions only
  • The odds of dying from monkey-induced rabies in Bali
  • How much rabies treatment costs in Bali (it’s seven figures)
  • How we like to think we are a lot more rational than we are
  • The way that sunken cost math can be affected by emotional responses
  • If you are focusing time on improbable things that are emotional heavyweights
  • The importance of evaluating the real chances of a certain risk happening before you act on it

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    Mentioned in this episode:

    • Your body language shapes who you are, TED talk by Amy Cuddy
    • Body language, the power is in the palm of your hands by Alan Pease
    • Grant’s video playing with the monkeys
    • Pascal’s wager: why you should (mathematically) believe in God
    • Predictably Irrational by Dan Ariely
    • Fooled by Randomness by Nassim Taleb
    • Black Swan by Nassin Taleb
    • Antifragile by Nassim Taleb
    • Thinking Fast and Slow by Daniel Kahneman

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      People on this episode:

      • Grant Weherley

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            Thanks for listening!

             

            Grant

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            Monetize Your Expertise | Create Online Courses | Form Membership Communities | Build Profitable Info ProductsBy Grant Weherley: Online Course Expert, Entrepreneur, Infoproduct Creator, Online Community Builder