Risk Aversion - The United States exhibits a higher degree of risk aversion compared to Europe [1] - The United States is particularly averse to mistakes of commission, where actions lead to errors [1] - Europe is more willing to accept the risk of omission, where inaction leads to errors [2] Economic Context - In a high-growth economy, the cost of missing opportunities (omission) outweighs the cost of making mistakes (commission) [2] Competitive Strategy - Europe seeks to compete through legislation [2]