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Now showing items 21-30 of 31
Jurors, Judges, and the Mistreatment of Risk by the Courts
(Journal of Legal Studies, 2001)
A sample of almost 500 jury-eligible citizens considered a series of experimental
situations involving accidents. The juror sample did not properly apply negligence
rules, as their errors were particularly great for ...
The New Cigarette Paternalism
(Regulation, 2002)
Smoking is by far the largest single risk that most people take. Perhaps in part because of that prominence, smoking has been the target of a wide variety of regulations and legal action. The controversy over tobacco ...
Value of a Statistical Life: Relative Position vs. Relative Age
(American Economic Review, 2005)
This paper examines the influence on estimates of the value of statistical life (VSL) of the worker's relative position in the wage distribution and relative position in the life cycle. Whereas past work on relative position ...
Juries, Hindsight, and Punitive Damages Awards: Reply to Richard Lempert
(DePaul Law Review, 2002)
Richard Lempert, a Professor of Law and Sociology at the University of Michigan criticized our recent article on judge and jury performance of a punitive damage judgment task, calling it a "failure of a social science case ...
Rational Discounting for Regulatory Analysis
(University of Chicago Law Review, 2007)
This Article examines the economic basis for what is termed "rational discounting,"
which entails full recognition of policy effects over time and exponential discounting
at a riskless rate of return. Policies often cannot ...
Punitive Damages: How Jurors Fail to Promote Efficiency
(Harvard Journal on Legislation, 2002)
Evidence of corporate risk-cost balancing often leads to inefficient punitive damages awards, suggesting that jurors fail to base their decision making on principles of economic efficiency. In this Article, Professor Viscusi ...
Discounting Dilemmas: Editors' Introduction
(Journal of Risk and Uncertainty, 2008)
Two developments pose dilemmas for well established discounting techniques: (1) The
extremely long time horizons associated with recently prominent environmental policy problems, such as climate change and nuclear waste ...
The Denominator Blindness Effect: Accident Frequencies and the Misjudgment of Recklessness
(American Law and Economics Review, 2004)
People seriously misjudge accident risks because they routinely neglect relevant information about exposure. Such risk judgments affect both personal and public policy decisions, e.g., choice of a transport mode, but also ...
The Value of Life in Legal Contexts: Survey and Critique
(American Law and Economics Review, 2000)
Recollection Bias and the Combat of Terrorism
(The Journal of Legal Studies, 2005)
Survey respondents assessed the risks of terrorist attacks and their consequences and were asked how their assessments changed from before September 11 to the present. This paper analyzes those current and recollected risk ...