Understanding policy over- and underreactions in times of crisis

Not all crises are met with proportionate policies: there can sometimes be a lack of balance between the costs of a policy and the benefits that are derived from it. Moshe Maor sets out a conceptual toolbox to help understand these responses. He argues that disporportionate responses are not necessarily the result of error, but can be intentionally designed and, under certain circumstances, be successfuly in achieving policy goals.