““It is well documented that humans are especially fearful of threats than can be easily pictured or imagined. For example, one study found that people are willing to spend significantly more for flight insurance that covers "death from 'terrorist acts'" than for flight insurance that covers "death from 'all possible causes'". Now, logically, flight insurance for death by any cause would cover terrorism in addition to a number of other potential problems. But something about the buzzword "terrorism" created a vivid impression that generates excessive fear. The flight insurance example highlights another psychological phenomenon that is important to understanding how fear influences our thinking: "probability neglect". Social scientists have found that when confronted with either an enormous threat or a huge reward, people tend to focus on the magnitude of the consequence and ignore probability.””
