“…For example, lag may mean that although a response from the policy-making system is adequate in terms of its size or intensity, it is late and therefore inadequate, which can be equated to an under-reaction (Maor, 2014a(Maor, , 2016Maor et al, 2017). Likewise, a policy response may come too early and therefore be inadequate, which again we conceive to be an over-reaction (Maor, 2012(Maor, , 2014bMaor et al, 2017).…”