In the third, and perhaps the most important from the authors’ perspective, the authors fail. In the first of these goals, they succeed. Third, defend the “ normal normal” against the “ new normal” of a post-pandemic world (p. Second, prevent the panic from happening again (p. The goal of Axe, Briggs, and Richards’s analysis is threefold: First, explain the viral (double entendre intended) panic (p. This book explores the various failures of the experts and discusses why the experts should have known better. Cambridge: Cambridge University Press, 2018), expert failure is when outcomes deviate from the normative expectations of the expert’s advice. As defined by Roger Koppl ( Expert Failure. Thus, this book falls squarely in the emerging literature of expert failure. Combining their respective areas of expertise, we see a picture of the pandemic emerge that focuses on the biological nature of the virus (chapter 1), the statistical nature of the models ( chapters 6-7), and the economic toll of the panic ( chapter 10). William Briggs is, according to his blog, the statistician to the stars. Jay Richards is a professor in the business school at Catholic University. The three authors represent a wide range of expertise: Douglas Axe brings in knowledge of molecular biology. The Price of Panic explores the role of various experts during the pandemic. However, problems arise in their analysis. The book is detailed and mostly careful in its analysis despite the short timeline. The first-mover status of the book does not mean it is sloppy.
The Price of Panic, as described by the authors, was a book hurried to publication so that it would be one of the first books to discuss the global panic stemming from the COVID-19 pandemic of 2020 (p. Single Issues of The Independent Review.International Economics and Development.
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