A recent study published in Risk Analysis, an official publication of the Society for Risk Analysis, analyzes the impact of “near misses” on an individual’s protective responses to hurricanes. Authored by Robin L. Dillon, Catherine H. Tinsley (a former professor of mine) and Matthew Cronin, the study shows how past circumstances where disaster was avoided due to “good fortune” distort an individual’s perception of risk. Individuals who experienced a near miss with something as deadly as a hurricane are less likely to purchase flood insurance or evacuate during a subsequent hurricane.
Continue to the article: Being Lucky In Business Can Hurt You
