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Now showing items 21-27 of 27
Risk Regulation Lessons from Mad Cows
(Foundations and Trends in Microeconomics, 2013)
The mad cow disease crisis in the United Kingdom (U.K.) was a major policy disaster. The government and public health officials failed to identify the risk to humans, created tremendous uncertainty regarding the human risks ...
Risky Investment Decisions: How Are Individuals Influenced by Their Groups?
(Journal of Risk and Uncertainty, 2011)
We investigate the effect of group versus individual decision-making in the context of risky investment decisions in which all subjects are fully informed of the probabilities and payoffs. Although there is full information, ...
Policy Relevant Heterogeneity in the Value of Statistical Life: New Evidence from Panel Data Quantile Regressions
(Journal of Risk and Uncertainty, 2010)
We examine differences in the value of statistical life (VSL) across potential wage levels in panel data using quantile regressions with intercept heterogeneity. Latent heterogeneity is econometrically important and affects ...
Reference-Dependent Valuations of Risk: Why Willingness-to-Accept Exceeds Willingness-to-Pay
(Journal of Risk and Uncertainty, 2011)
The gap between willingness-to-pay (WTP) and willingness-to-accept (WTA) benefit values typifies situations in which reference points — and direction of movement from reference points — are consequential. Why WTA-WTP ...
The Fatal Failure of the Regulatory state
(William & Mary Law Review, 2018)
While regulatory agencies place high values on the benefits associated with the reduction in mortality risks due to regulations, these same agencies substantially undervalue lives in their enforcement efforts. The disparity ...
The Fatal Failure of the Regulatory State
(William & Mary Law Review, 2018)
Although regulatory agencies place high values on the benefits associated with the reduction in mortality risks due to regulations, these same agencies substantially undervalue lives in their enforcement efforts. The ...
Using Data from the Census of Fatal Occupational Injuries to Estimate the "value of a statistical life"
(Monthly Labor Review, 2013)
The advent of the Census of Fatal Occupational Injuries has enabled researchers to reduce measurement error in
fatality rate estimates; in turn, estimates of the “value of a statistical life” that are based on labor market ...