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Now showing items 1-9 of 9
Judicial Review of Agency Benefit-Cost Analysis
(George Mason Law Review, 2015)
This Article evaluates judicial review of agency benefit-cost analysis ("BCA") by examining a substantial sample of thirty-eight judicial decisions on agency actions that implicate BCA. Essentially, the Administrative ...
Jurors, Judges, and the Mistreatment of Risk by the Courts
(Journal of Legal Studies, 2001)
A sample of almost 500 jury-eligible citizens considered a series of experimental
situations involving accidents. The juror sample did not properly apply negligence
rules, as their errors were particularly great for ...
Wealth Effects and Earnings Premiums for Job Hazards
(The Review of Economics and Statistics, 1978)
DAM Smith (1937) observed that "the whole of the advantages and disadvantages of the different employments of labor and stock must, in the same neighborhood, be either perfectly equal or continually tending to equality." ...
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 ...
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 ...
Estimation of State-Dependent Utility Functions Using Survey Data
(The Review of Economics and Statistics, 1991)
Abstract-Surveys of individual's risk-dollar tradeoffs illuminate not only the local tradeoff rates but also can be used to address more fundamental questions about the structure of
utility functions. This largely unexplored ...
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 ...
Estimation of Revealed Probabilities and Utility Functions for Product Safety Decisions
(The Review of Economics and Statistics, 1998)
Using survey data on consumer product purchases, this paper introduces an approach to estimate jointly individual utility functions and risk perceptions implied by their decisions. The behavioral risk beliefs reflected in ...
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 ...