What seemingly bizarre reactions to COVID-19—like hoarding and stealing toilet paper—say about people's ability to tolerate uncertainty
in a hypothetical work dilemma. Participants were asked to imagine that their current workplace was undergoing a process of restructuring, meaning that many employees would have to move to one of two less desirable sites outside the city . Participants also received the following information about their exact relocation risks:With a 30% probability you will have to move to Site A.To reduce their risk of relocation, they were subsequently presented with the choice of two different strategies.
If you choose Strategy 2 , you will reduce your risk of being sent to Site B by 5%. Consequently, your new risk of relocation to Site B will be 0.Which risk reduction strategy would you choose?From a rational point of view, the choice between the two strategies is a no-brainer. Strategy 1 should be the clear winner, because it reduces the overall risk of relocation by a greater amount compared to Strategy 2 .
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China sees zero local coronavirus cases for third day – latest updatesNo new Covid-19 cases for a third straight day in Wuhan, here’s the latest: - South Korea reports 147 new cases - Confirmed cases in Mexico rise to more than 200 - New Zealand keeps schools open, urges limits on movement For more:
Read more »
Bank of England ramps up bond-buying, cuts rates to near zeroThe Bank of England made the second emergency rate cut in just over a week, slashing interest rates to a record low of 0.1%, and ramped up bond-buying to shield the economy from the impact of coronavirus
Read more »
China sees zero local coronavirus cases for second day – latest updatesChina’s Wuhan reports no new coronavirus cases for second straight day, here is whats new: – South Korea reports 87 new coronavirus cases – New Zealand confirms 11 new cases – Two Los Angeles Lakers players have tested positive For more:
Read more »
Trump halts most traffic on U.S. border with MexicoIn the latest response to the coronavirus crisis, President Trump said he will stop nonessential traffic on the border with Mexico.
Read more »
Deaf Community Rips Trump for Lack of ASL Interpreter at Virus BriefingsDeaf and hearing-impaired community rips Trump for not using ASL interpreter at coronavirus briefings.
Read more »