‘In-between’ and other reasonable ways to deal with risk and uncertainty: A review article

Abstract

How people deal with risk and uncertainty has fuelled public and academic debate in recent decades. Researchers have shown that common distinctions between rational and ‘irrational’ strategies underestimate the complexity of how people approach an uncertain future. I suggested in 2008 that strategies in-between do not follow standards of instrumental rationality nor they are ‘irrational’ but follow their own logic which works well under particular circumstances. Strategies such as trust, intuition and emotion are an important part of the mix when people deal with risk and uncertainty. In this article, I develop my original argument. It explores in-between strategies to deal with possible undesired outcomes of decisions. I examine ‘non-rational strategies’ and in particular the notions of active, passive and reflexive hope. Furthermore, I argue that my original typology should be seen as a triangular of reasonable strategies which work well under specific circumstances. Finally, I highlight a number of different ways in which these strategies combine.