I think calling it “loss aversion” here implies an irrational bias that isn’t even there. The loss from an extinction level impact is near infinite, so honestly I would say wanting to avoid it at all costs is rational. If someone can shell out the money needed unilaterally then freeriding isn’t a worry. Heck, if you can gather the money from people under threat of force (which after all is kind of how taxes work now) it’s probably well morally justified, as long as you keep the sum reasonable. It’s just a very extreme situation in which “but what if someone freerides” definitely shouldn’t be the top concern.
I think calling it “loss aversion” here implies an irrational bias that isn’t even there. The loss from an extinction level impact is near infinite, so honestly I would say wanting to avoid it at all costs is rational. If someone can shell out the money needed unilaterally then freeriding isn’t a worry. Heck, if you can gather the money from people under threat of force (which after all is kind of how taxes work now) it’s probably well morally justified, as long as you keep the sum reasonable. It’s just a very extreme situation in which “but what if someone freerides” definitely shouldn’t be the top concern.