How many times do we hear about people failing to heed warnings of potential danger from natural or man-made disasters only to be negatively affected? Researchers Robin Dillon-Merrill and Catherine Tinsley at Georgetown’s McDonough School of Business took a look at this phenomenon in a paper entitled “How Near-Miss Events Amplify or Attenuate Risky Decision Making.” It all boils down to the fact that we tend to view the outcome as the indicator of success or failure.
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