Negativity bias and loss aversion is hardwired into all of us. It is important, at the very least, to be aware of this fact.
But what is most problematic is when these biases become built into the social institutions that we create. Often, our aversion to risk and loss ends up causing more harm. This is a frequent discussion here at Risk & Progress.
Interesting, what's an example of negativity bias being built into a social institution in your eyes? I tend to think of these biases on an individual level, but agree they can function at the institutional level too.
Basically any regulator. The FDA comes to mind. More people, it can be argued, die from the FDA than it saves because it takes so long to get lifesaving drugs and equipment approved: https://www.lianeon.org/p/when-risk-aversion-kills
Negativity bias and loss aversion is hardwired into all of us. It is important, at the very least, to be aware of this fact.
But what is most problematic is when these biases become built into the social institutions that we create. Often, our aversion to risk and loss ends up causing more harm. This is a frequent discussion here at Risk & Progress.
Interesting, what's an example of negativity bias being built into a social institution in your eyes? I tend to think of these biases on an individual level, but agree they can function at the institutional level too.
Basically any regulator. The FDA comes to mind. More people, it can be argued, die from the FDA than it saves because it takes so long to get lifesaving drugs and equipment approved: https://www.lianeon.org/p/when-risk-aversion-kills