The Economy of Fear
Chinese Restaurants sit empty, or closing early. People reject the option to visit the Blue Mountains. The Olympics could be cancelled. Fear has hit the economy hard in early 2020, with tourists avoiding bushfire-affected tourist attractions, and some Chinese restaurants seeing less patronage over the past couple of weeks.
But there isn’t a realistic chance of getting caught up in a bushfire in the Blue Mountains today, nor is there a chance of catching the coronavirus just by visiting a Chinese restaurant in the CBD. So why are people still avoiding them?