TIL: the affect heuristic

[timelets]

“One intriguing finding was that a natural event such as an earthquake could influence estimations of the likelihood of a stock market crash. The respondents in our survey assigned statistically significantly higher probabilities to a stock market crash if there had been an earthquake within thirty miles of their zip code within thirty days, triggering the affect heuristic.”

Robert J. Shiller. “Narrative Economics.”