Search
Now showing items 1-3 of 3
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 ...
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 ...
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 ...