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Now showing items 61-70 of 134
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 ...
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 ...
Monetizing the Benefits of Risk and Environmental Regulation
(Fordham Urban Law Journal, 2006)
Should the benefits of risk and environmental regulations be monetized? For economists, this question is not controversial. Benefits of government policies have a value given by society's willingness to pay for these ...
Cigarette Smokers as Job Risk Takers
(The Review of Economics and Statistics, 2001)
Using a large data set, the authors find that smokers select riskier jobs, but receive lower total wage compensation for risk than do nonsmokers. This finding is inconsistent with conventional models of compensating ...
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 ...
Punitive Damages: How Judges and Juries Perform
(Journal of Legal Studies, 2004)
This paper presents the first empirical anatysis that demonstrates that juries differ from judges in awarding punitive damages. Our review of punitive damages awards of $100 million or more identified 63 such awards, of ...
Corporate Risk Analysis: A Reckless Act?
(Stanford Law Review, 2000)
Balancing of risk and cost lies at the heart of standard negligence tests and
policy analysis approaches to government regulation. Notwithstanding the desirability
of using a benefit-cost approach to assess the merits of ...
The Blockbuster Punitive Damages Awards
(Emory Law Journal, 2004)
This paper provides an analysis of sixty-four punitive damages awards of at least $100 million. Based on an inventory of these cases, there is evidence that these blockbuster awards are highly concentrated geographically, ...
Workers' Compensation and Injury Duration: Evidence from a Natural Experiment
(The American Economic Review, 1995)
This paper examines the effect of workers' compensation on time out of work. It
introduces a "natural experiment" approach of comparing individuals injured
before and after increases in the maximum weekly benefit amount. ...
Consumer Behavior and the Safety Effects of Product Safety Regulation
(Journal of Law and Economics, 1985)
A recurring issue in the economic analysis of risk regulation agencies is whether these efforts have had any significant favorable effect on safety. Although the existence of such an effect would not necessarily imply that ...