ELI5: Explain Like I'm 5

Peltzman effect

Have you ever heard of something called the Peltzman Effect? It's kinda like what happens when you get a new toy and you start playing with it, but then you realize you can take risks because your parents are right there and they'll catch you if you fall.

So, let's imagine you're in a car with your parents and they're driving on the highway. You've got your seatbelt on, and you're feeling pretty safe. But then, you see that your parents are going faster than they normally do, and they're not paying as much attention to the road as they usually do. You start to feel a little scared, but at the same time, you know that your parents are there to protect you.

That's kind of like the Peltzman Effect. It's the idea that when we feel safe, we tend to take more risks. This can happen in all sorts of situations - like when we're wearing a helmet while riding a bike, or when we're taking medicine to treat a disease.

The Peltzman Effect is named after a guy named Sam Peltzman, who studied the effects of safety regulations on car accidents. He found that even though safety features like seat belts and airbags helped reduce the overall number of accidents, they also led to people driving faster and taking more risks, which led to more severe accidents.

So, the Peltzman Effect is kind of a double-edged sword. On one hand, safety regulations can save lives and prevent injuries. But on the other hand, they can also lead to people feeling too safe and taking unnecessary risks. The key is to find a balance between safety and risk, so that we can all live happy and healthy lives.