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Risk analysis is personal. People strive to pigeonhole what level of risk they are willing to incur but often do the exact opposite when things don't go according to the best case scenario.Normalcy bias, or normality bias, is a cognitive bias which leads people to disbelieve or minimize threat warnings.[1] Consequently, individuals underestimate the likelihood of a disaster, when it might affect them, and its potential adverse effects.[2] The normalcy bias causes many people to not adequately prepare for natural disasters, market crashes, and calamities caused by human error. About 70% of people reportedly display normalcy bias during a disaster.[3]
Normalcy bias - Wikipedia
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