> Surely if you’re ready for more than 10% of 1-in-10 events, your probabilities are just as wrong as other people’s.
Not necessarily; as Alexander mentioned repeatedly, it depends on the cost of repeatedly preparing unnecessarily versus the cost of not being prepared that one time it happens.
Just about the whole of aviation safety, to give one extended example, is based on this principle.
Not necessarily; as Alexander mentioned repeatedly, it depends on the cost of repeatedly preparing unnecessarily versus the cost of not being prepared that one time it happens.
Just about the whole of aviation safety, to give one extended example, is based on this principle.