The Confidence Game: Why We Fall for It . . . Every Time

by Maria Konnikova

Often, patient, levelheaded people will go a bit crazy in the wake of a major life change—we become more impulsive, less stable, riskier versions of ourselves. And our impulsivity and appetite for risk are some of the only reliable indicators of fraud susceptibility. In one study, risk takers were over six times more likely to fall victim than those whose risk tolerance was low. Given the right circumstances, just about anyone can fit that description. When we’re feeling low, we want to get out of the slump. So, schemes or propositions that would look absurd in another light suddenly seem more attractive. When we’re angry, we want to lash out. Suddenly, something that once seemed like a gamble looks awfully appealing. A victim isn’t necessarily foolish or greedy. A victim is simply more emotionally vulnerable at the exact moment the confidence artist approaches. Risk taking and impulsivity need not be stable aspects of our personalities; they are intimately tied to where we find ourselves emotionally at any given point.