Right, and the flip side of this is roughly opportunity cost.
Assess the risk, and potential benefits, of every action, where nonaction is… also an action.
If you ‘do nothing’, and others ‘do something’, and the net result is you are now comparatively worse off than others… well then, your inaction has made you comparatively worse off.
You can use that logic in stock portfolios, business strategies, or ‘should i evacuate after the tsunami warning?’.
Right, and the flip side of this is roughly opportunity cost.
Assess the risk, and potential benefits, of every action, where nonaction is… also an action.
If you ‘do nothing’, and others ‘do something’, and the net result is you are now comparatively worse off than others… well then, your inaction has made you comparatively worse off.
You can use that logic in stock portfolios, business strategies, or ‘should i evacuate after the tsunami warning?’.