The possible appearence of states in which the individuals rational or irrational reactions to the risk as it is perceived, increases the instability of the system instead of reducing it.
This happens for example in markets and leads to panics and crashes. This phenomenon is related to runaway processes wherein positive feedbacks lead to explosions or collapses.
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To cite this page, please use the following information:
Bertalanffy Center for the Study of Systems Science (2020). Title of the entry. In Charles François (Ed.), International Encyclopedia of Systems and Cybernetics (2). Retrieved from www.systemspedia.org/[full/url]
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