[1]: https://www.ntsb.gov/safety/StatisticalReviews/Pages/CivilAv...
[1]: https://www.ntsb.gov/safety/StatisticalReviews/Pages/CivilAv...
Three mile island directly cost well over 1 billion in 1979 dollars (2+B today) just in terms of destroyed assets and initial cleanup costs. The wider impact was even more expensive.
Such a visible failure changed the risk/reward calculations which then hurt the nuclear industry quite a bit. We did keep building US nuclear reactors afterwards, but they were never that profitable in the first place making the industry very sensitive to disruption.
Timeline of US reactor construction: https://en.wikipedia.org/wiki/Three_Mile_Island_accident#/me...
Humans just seem to be disproportionately responsive to rare, acute events.
An example, forest fires in the West (coast US). They have always been around. So, many say, nothing new here. Yet, we don't quite grok that they are 10x worse than 50 years ago [1]. Thus, if you look at it across multiple human lifetimes we can see there is a radical difference. Across one lifetime and it might not seem like it is so different.
[1] https://www.nytimes.com/interactive/2020/09/24/climate/fires... (has several graphs that indicate magnitude more fire & magnitude more burn area)
However, the market does care if something has proven to be a risky bet. Meltdowns involve actual money on the line.
Things stabilizing like that is very suspect. It probably has to do with capacity factors and the long lead time, but I wouldn’t assume there’s no correlation.
If you’re a software company with profit margins over 40% then you don’t care much about rent etc.
People are "bad at statistics" in the sense that the very real evidence coming from, e.g. 3 mile, is hard to bring into statistical models appropriately, not in the sense that there was no evidence there.
For the airline risk example: US Airline Carriers in past 14 years: 268 serious injuries (same source as above). Depending on the year, that’s about the same or less than the number of road traffic related injuries in the US in just one hour (on average)[1].
[1]: https://www.statista.com/statistics/191900/road-traffic-rela...