Another similarly paradoxical way to put that question would be to ask: When is overreaction not an overreaction? That's the issue that Nassim Nicholas Taleb explores (I got this via Steve Sailer, Taleb on Why Panic Is Good ). Taleb argues that what may rationally appear to be a strictly irrational--panicked--response to a risk may, on closer examination, turn out to be a quite rational precaution. Thus the title of his brief essay--
Is "Overreaction" Good And Necessary?
Is "Overreaction" Good And Necessary?
Is "Overreaction" Good And Necessary?
Another similarly paradoxical way to put that question would be to ask: When is overreaction not an overreaction? That's the issue that Nassim Nicholas Taleb explores (I got this via Steve Sailer, Taleb on Why Panic Is Good ). Taleb argues that what may rationally appear to be a strictly irrational--panicked--response to a risk may, on closer examination, turn out to be a quite rational precaution. Thus the title of his brief essay--