So is it the “randomness” of terrorism that causes us to overweight the risk?
It seems like we’re just really bad at thinking clearly about low probability / high severity risks
It seems like we’re just really bad at thinking clearly about low probability / high severity risks
The dam flooding isn't random, its an unfrequent event that will occur so it is something we should prepare for.
CEOs are graded quarter-to-quarter and politicians every 2-4 years. Low probability events (plane crashes, infrastructure failures, etc.) may not ever happen during their tenure, incentivizing them to defund preparing for them to favor other programs, understanding full well they’re bound to occur