Terrorism is an asymmetric violent conflict that can result in sudden massive attack and destruction of lives and properties. As a zero-sum game, a gain by the antagonist automatically leads to a loss by his rival. This act can trigger an emotional response in form of fear encapsulated as “fight, freeze or flight” which can be related to risk-loving, risk-neutral and risk-averse behaviour of an individual respectively. This study analyses the emotion of fear triggered by the incidents of terrorism in the North-eastern Nigeria and the extent to which this fear response affect the economic performance and people’s productivity. The results show that the level of risk aversion becomes hi
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