Decisions in Periods of Uncertainty, Fear, and Catastrophe

Dialogues économiques
APRIL 28, 2020
One of the things which led to Covid-19 becoming a catastrophic situation has revealed to be the choices that were made before the pandemic. Regardless of whether these choices were good or not, they were nevertheless made. This therefore leads to the question of how catastrophes influence decision-making in uncertain situations. Theories are able to clearly explain our choices when we have all the elements in hand. However, once exceptional situations occur, such as catastrophes that have disastrous yet very unlikely consequences, these theories reveal to be less pertinent.
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