We all make decisions involving risk. Decisions like trying out for your school’s chess team, speaking up when you don’t agree with your boss, or going down a double-black-diamond run at the end of a long day of skiing. So how do we determine which risks are worth taking and which ones are too … risky?

In this episode of Choiceology with Katy Milkman, we look at gender differences around confidence and uncertainty, and how we can all better calibrate our bravado.

Surfing waves as tall as apartment buildings takes a lot of strength and skill and preparation. It also involves risk—mistakes can lead to broken bones, concussions, or worse. But as Bianca Valenti explains, those risks can be managed, and there are big rewards in those big waves.

Bianca Valenti is a world-champion surfer, speaker, activist, and entrepreneur. Watch her award-winning ride for the Mavericks Awards.

Next, Katy speaks with Katherine Coffman about research that explores how gender stereotypes shape beliefs about taking risks.

You can read more in the working paper she co-authored, called "A (Dynamic) Investigation of Stereotypes, Belief-Updating, and Behavior."

Katherine Coffman is the Piramal Associate Professor of Business Administration in the Negotiations, Organizations & Markets unit at the Harvard Business School.

Choiceology is an original podcast from Charles Schwab. For more on the series, visit schwab.com/podcast.

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