Search
Now showing items 1-10 of 134
Private Values of Risk Tradeoffs at Superfund Sites: Housing Market Evidence on Learning About Risk
(The Review of Economics and Statistics, 2000)
This paper incorporates a Bayesian learning model into a hedonic framework to estimate the value that residents place on avoiding cancer risks from hazardous-waste sites. We show that residents are willing to pay to avoid ...
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 ...
Smoking Status and Public Responses to Ambiguous Scientific Risk Evidence
(Southern Economic Journal, 1999)
Situations in which individuals receive information seldom involve scientific consensus over the level of the risk. When scientific experts disagree, people may process the information in an unpredictable manner. The ...
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, ...
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. ...
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 ...
Age Variations in Risk Perceptions and Smoking Decisions
(The Review of Economics and Statistics, 1991)
Abstract-The results of a national survey of smoking risks and smoking behavior are analyzed. Smoking risk perceptions follow the expected patterns given age differences in risk information acquired and differences in ...
Tort Liability Litigation Costs for Commercial Claims
(American Law and Economics Review, 2007)
This article analyzes tort liability litigation costs using the Texas Department of Insurance Commercial Liability Insurance Closed Claim database for the years 1988–2004. Insurer costs to defend claims in which a suit was ...
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 ...