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by rayiner
4861 days ago
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Risk analysis isn't just about probability. It's about the cost of prevention relative to the probability of a bad outcome multiplied by the cost of a bad outcome. Parents worry about children because the cost of losing a child is ruinously high to a parent. Meanwhile, little preventative measures like not leaving them outside are cheaper than putting them in little baby Faraday cages on cloudy days. Hence why parents worry about child abduction and not lightning strikes. |
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