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Now showing items 111-120 of 134
Utility Functions that Depend on Health Status: Estimates and Economic Implications
(The American Economic Review, 1990)
Taylor's series and logarithmic estimates of health state-dependent utility functions
both imply that job injuries reduce one's utility and marginal utility of income, thus rejecting the monetary loss equivalent formulation. ...
An Empirical Assessment of Early Offer Reform for Medical Malpractice
(Journal of Legal Studies, 2007)
The early offer reform proposal for medical malpractice provides an option for claimants to receive prompt payment of all their net economic losses and reasonable attorney fees. Using a large sample of closed individual ...
Individual Rationality, Hazard Warnings, and the Foundations of Tort Law
(Rutgers Law Review, 1996)
If all people were fully rational and cognizant of all the risks they faced, then they would always select an efficient level of safety in all their activities and other choices. Thus people would trade off the potential ...
Risk Equity
(The Journal of Legal Studies, 2000)
Risk equity serves as the purported rationale for a wide range of inefficient policy practices, such as the concern that hypothetical individual risks not be too great. This paper proposes an alternative risk equity concept ...
Wading Through the Muddle of Risk-Utility Analysis
(American University Law Review, 1990)
The original emphasis of risk-utility analysis on the need for balanced
decisions with respect to product liability is a correct and fundamental
principle. Moreover, many traditional factors that have
been considered ...
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 ...
Sex Differences in Worker Quitting
(The Review of Economics and Statistics, 1980)
Although women quit more both overall and within major occupational groups than do men, this observation is not particularly informative due to the substantial heterogeneity of worker characteristics and job characteristics. ...
The Value of Risks to Life and Health
(Journal of Economic Literature, 1993)
The 1980s marked the first decade in which use of estimates of the value of life based on risk tradeoffs became widespread throughout the Federal government. Previously, agencies assessed only the lost present value of the ...
Cigarette Warnings: The Perils of the Cipollone Decision
(Supreme Court Economic Review, 1993)
In Cipollone v Liggett Group, Inc., a splintered Court concluded that cigarette smokers who are injured through their consumption of tobacco may bring some state law tort claims against the manufacturers of the cigarettes. ...
Are Risk Regulators Rational? Evidence from Hazardous Waste Cleanup Decisions
(The American Economic Review, 1999)
Using original data on the cleanup of 130 hazardous waste sites, we examine the degree Superfund decisions are driven by efficiency concerns, biases in risk perceptions, and political factors. Target risk levels chosen by ...