“The combination of these vastly different expressions of scale together with anchoring makes that we should expect people to over-estimate the probability of unlikely risks and hence to over-estimate the expected utility of x-risk prevention measures. ”
I am not entirely sure whether i understand this point. Is the argument that the anchoring effect would cause an overestimation, because the “perceived distance” from an anchor grows faster per added zero than per increase of one to the exponent?
“The combination of these vastly different expressions of scale together with anchoring makes that we should expect people to over-estimate the probability of unlikely risks and hence to over-estimate the expected utility of x-risk prevention measures. ”
I am not entirely sure whether i understand this point. Is the argument that the anchoring effect would cause an overestimation, because the “perceived distance” from an anchor grows faster per added zero than per increase of one to the exponent?