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Does Product Liability Make Us Safer?
Product liability law is intended to create an environment that fosters safer products. However, this law often has adverse consequences. Some of the problems stem from the inherent nature of product risk decisions and the ...
An Investigation of the Rationality of Consumer Valuations of Multiple Health Risks
(The RAND Journal of Economics, 2012)
After developing a conceptual analysis of consumer valuation of multiple risks, we explore both economic and cognitive hypotheses regarding individual risk-taking. Using a sample of over 1,500 consumers, our study ...