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Now showing items 11-20 of 32
An Investigation of the Rationality of Consumer Valuations of Multiple Health Risks
(The RAND Journal of Economics, 2012)
After developing a conceptual analysis of consumer valuation of multiple risks, we explore
both economic and cognitive hypotheses regarding individual risk-taking. Using a sample
of over 1,500 consumers, our study ...
The Role of Publication Selection Bias in Estimates of the Value of a Statistical Life
(American Journal of Health Economics, 2015)
Meta-regression estimates of the value of a statistical life (VSL) controlling for publication selection bias often yield bias-corrected estimates of VSL that are substantially below the mean VSL estimates. Labor market ...
Does Product Liability Make Us Safer?
(Regulation, 2012)
Product liability law is intended to create an environment that fosters safer products. However, this law often has adverse consequences. Some of the problems stem from the inherent nature of product risk decisions and the ...
Deterring and Compensating Oil-Spill Catastrophes: The Need for Strict and Two-Tier Liability
(Virginia Law Review, 2011)
The BP Deepwater Horizon oil spill highlighted the glaring weaknesses in the current liability and regulatory regime for oil spills and for environmental catastrophes more broadly. This Article proposes a new liability ...
Punitive Damages by Numbers: Exxon Shipping Co. v. Baker
(Supreme Court Economic Review, 2010)
The U.S. Supreme Court decision in Exxon Shipping Co. v. Baker is a landmark that establishes an upper bound ratio of punitive damages to compensatory damages of 1:1 for maritime cases, with potential implications for other ...
Promoting Recycling: Private Values, Social Norms, and Economic Incentives
(American Economic Review, 2011)
Individual behaviors that benefit the environment are potentially influenced by personal values of environmental quality, social norms that encourage proenvironmental actions, and economic incentives. Economic incentives ...
Product Liability and Regulation: Establishing the Appropriate Institutional Division of Labor
(American Economic Association, 2012)
Society has several institutional mechanisms that promote the control of product health and safety risks and compensation of the income losses that these risks generated. For risks traded in the market, economic forces at ...
Saving Lives Through Punitive Damages
(Southern California Law Review, 2010)
This Article proposes that the value of statistical life ("VSL ") be used to set the total damages amount needed for deterrence when punitive damages are warranted in wrongful death cases. The appropriate level of total ...
Pricing Lives for Corporate and Governmental Risk Decisions
(Vanderbilt Law Review, 2015)
The value of a statistical life (VSL) is the most influential single parameter used in calculating the benefits of governmental regulations. While there are some inter-agency differences, there is a commonality in the ...
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 ...