Developmental psychology: the adolescent brain

Had a thought while reading up on the developmental process of the adolescent/teen brain. According to the text, due to the faster development of the amygdala coinciding with a slower development of the frontal cortex, teens paradoxically overestimate the riskiness of life AND underestimate the application of that risk to their own lives. So, In other words, while teens may hold a perspective that the world is more dangerous than it is, they also believe themselves immune, which would account for higher instances of risky (stupid) decisions and behavior among teens, some of which are fatal.  Binge drinking, girls walking home alone at 3 am, drunk driving, indulging in cocktail of recreational drugs the night before an exam...

ok, so this we know...

Second bit of information:
According to one study looking at how adults and teens were able to interpret emotions via facial expressions, results showed that teens are more likely to misinterpret the emotional facial expression in another than adults.

So--the highly emotional, moody, dramatic, angsty teen, the one who feels everything is less able to identify emotions in other people.
This would account, I suppose for the fact that teens rarely know what they themselves are feeling well enough to articulate it to their parents, teachers or even friends.

Would this less developed ability to interpret emotional expression fully have something to do also with teens tendency to indulge in behaviors that resulted in short term happiness, even at great risk whether emotional or physical? ---I'm happy and therefore I will continue to feel this happiness as if it will never end...imagine first love and first heartbreak. They would intellectually know that it hurts to go through a break up, but they haven't experienced a great pain before so they wouldn't be able to interpret it properly as a risk. Thus--diving in head first.

 Is the later maturation of the frontal cortext, which results in adults' superior judgement of emotional expression, possibly influenced by the results of said risky behavior in the years before? (i.e. environment affecting biological development) Can our brain actually become hard wired to make judgements that best protect us from experiencing certain pain or trauma again?

These are questions I have...