Tim Harford’s long-running column in the Financial Times, “The Undercover Economist,” reveals the economic ideas behind everyday experiences. His first book, The Undercover Economist, was published in 30 languages and sold…
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For years, people had warned that New Orleans was vulnerable — but when a hurricane came close to destroying the city, the reaction was muted. Some people took the near miss as a warning – others, as confirmation that there was nothing to worry about.
So why do we struggle to prepare for disasters? And why don’t we draw the obvious lessons from clear warnings?
Sources for this episode include Amanda Ripley’s The Unthinkable, The Ostrich Paradox by Howard Kunreuther and Robert Meyer, Margaret Heffernan’s Willful Blindness, and Predictable Surprises by Max Bazerman and Michael Watkins.