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Adaptive Responses to Chemical Labeling: Are Workers Bayesian Decision Makers?
(American Economic Review, 1984)
A fundamental issue in the economics of uncertainty is how individuals process information and make choices under uncertainty. In a recent analysis of the findings on risk perception, Kenneth Arrow (1982) concluded that ...
Frameworks for Analyzing the Effects of Risk and Environmental Regulations on Productivity
(American Economic Association, 1983)
The existence of a negative relationship between the regulatory burden and capital
investments, and consequently productivity,is not controversial. A conventional model of
this type is developed in Section I. If, however, ...
The Risks and Rewards of Criminal Activity: A Comprehensive Test of Criminal Deterrence
(Journal of Labor Economics, 1986)
Whereas previous analyses of criminal deterrence have focused on the effect of criminal enforcement on crime rates, this study analyzes the existence of compensating differentials for criminal pursuits. By analyzing the ...
Moral Hazard and Merit Rating Over Time: An Analysis of Optimal Intertemporal Wage Structures
(Southern Economic Journal, 1986)
In situations of uncertain worker productivity and risk aversion, labor market contracts have a dual objective of promoting incentives and risk spreading. A trade-off between these objectives is present in single period ...
The Lulling Effect: The Impact of Child-Resistant Packaging on Aspirin and Analgesic Ingestions
(AEA Papers and Proceedings, 1984)
In 1972 the Food and Drug Administration imposed a protective bottlecap requirement
on aspirin and other selected drugs. This regulation epitomizes the technological
approach to social regulation. The strategy for reducing ...
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. ...
Market Incentives for Safety
(Harvard Business Review, 1985)
In the heated atmosphere generated by inch-high headlines and multimillion-dollar liability suits, two important facts often get lost. First, society's awareness of what ensuring reasonably complete safety would cost rarely ...
Are Individuals Bayesian Decision Makers?
(American Economic Review, 1985)
There has been increasing interest in whether normative models of individual choice under uncertainty accord with actual behavior. These concerns have been much greater than in other economic contexts because of the ...
Health and Safety
(Regulation, 1982)
My review of recent risk regulation policies necessarily starts with the new oversight group within the Office of Management and Budget (OMB), because it has been the dominant force for improvement thus far. Unfortunately, ...
The Determinants of the Disposition of Product Liability Claims and Compensation for Bodily Injury
(The Journal of Legal Studies, 1986)
The frequency and severity of products liability lawsuits have become a matter of increasing importance and concern to the public at large and to American business in particular. The number of product liability cases filed ...