“…Multiple factors complicate the prediction of bounded-rational adaptive behavior; such as the perceived adaptation efficiency, the costs of undertaking an adaptive strategy, the (perceived) capacity to enact it (financial or knowledge constraints, technical skills), and risk perception (Bubeck, Botzen, & Aerts, 2012;Grothmann & Patt, 2005;Loucks, 2015). In the context of drought, risk perception relates to how people and institutions perceive both the severity and likelihood of a drought event occurring (Asayehegn, Temple, Sanchez, & Iglesias, 2017;de Korte, 2017;Silvestri, Bryan, Ringler, Herrero, & Okoba, 2012;Urquijo, Pereira, Dias, & De Stefano, 2017); it is this flawed perception of reality that leads to the so-called reservoir effect (Di Baldassarre et al, 2018). Risk perception can be influenced by peoples' memory of past experiences, risk information transferred through social networks, media, or politics, as well as a person's trust in existing forecasting and early warning systems and individual risk-adversity (Loucks, 2015).…”