Always Ask for What You Want: A Lesson in Asymmetrical Risk

TLDR: An asymmetrical risk is one where the potential reward greatly outweighs the potential loss. Identify and take more of these risks.

Every so often, a news article that offers “expert advice” on getting upgraded at the airport makes the rounds. Inevitably, the advice includes something about how you should “dress well and ask nicely.”

Real travel experts always roll their eyes at such advice. These days, almost all upgrades are handled through computer systems based on elite st...