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Addressing threats like Covid: why we will tend to over-react and how we can do better

Addressing threats like Covid: why we will tend to over-react and how we can do better A number of behavioral economic insights suggest we will tend to overreact, individually and collectively, to a new, serious, but low probability health threat, like Covid 19. To respond more effectively to such threats, we should recognize why we will tend to overreact and prepare in advance not to do so. We also should recognize the usefulness in giving lower level governments, non-profits, and less formal communities some ability to respond, rather than presuming we should address a significant threat like Covid using the highest level of government. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Mind & Society Springer Journals

Addressing threats like Covid: why we will tend to over-react and how we can do better

Mind & Society , Volume 21 (1) – Jun 1, 2022

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References (31)

Publisher
Springer Journals
Copyright
Copyright © The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature 2022
ISSN
1593-7879
eISSN
1860-1839
DOI
10.1007/s11299-022-00288-6
Publisher site
See Article on Publisher Site

Abstract

A number of behavioral economic insights suggest we will tend to overreact, individually and collectively, to a new, serious, but low probability health threat, like Covid 19. To respond more effectively to such threats, we should recognize why we will tend to overreact and prepare in advance not to do so. We also should recognize the usefulness in giving lower level governments, non-profits, and less formal communities some ability to respond, rather than presuming we should address a significant threat like Covid using the highest level of government.

Journal

Mind & SocietySpringer Journals

Published: Jun 1, 2022

Keywords: Covid; Loss aversion; Status quo bias; Certainty effect; Ambiguity; Emotion

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