'Offshore wind needs to better balance risk and reward as it gears up for gigawatts'

Developers need to see new ways to innovate for the next phase of the offshore wind build-out.

The Nobel Prize-winning behavioural economist Daniel Kahneman describes in his book Thinking Fast, and Slow how humans are inherently poor at responding to risk. Our tendency for loss aversion – that, is minimising the chance of any loss, even at the expense of upside – leads to decision-making that hard, statistical evidence proves is fundamentally flawed.