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Mortality Effects of Regulatory Costs and Policy Evaluation Criteria

dc.contributor.authorViscusi, W. Kip
dc.date.accessioned2015-04-10T18:08:10Z
dc.date.available2015-04-10T18:08:10Z
dc.date.issued1994
dc.identifier.citation25 The RAND Journal of Economics 94 (1994)en_US
dc.identifier.urihttp://hdl.handle.net/1803/6949
dc.descriptionarticle published in journal of economicsen_US
dc.description.abstractRisk regulations directly reduce risks, but they may produce offsetting risk increases. Regulated risks generate a substitution effect, as individuals' risk-averting actions will diminish. Recognition of these effects alters benefit-cost criteria and the value-of-life estimates pertinent to policy analysis. Particularly expensive risk regulations may be counterproductive. The expenditure level that will lead to the loss of one statistical life equals the value of life divided by the marginal propensity to spend on health. Regulations with a cost of $30 million to $70 million per life saved will, on balance, have a net adverse effect on mortality because of these linkages.en_US
dc.format.extent1 PDF (18 pages)en_US
dc.format.mimetypeapplication/pdf
dc.language.isoen_USen_US
dc.publisherThe RAND of Economicsen_US
dc.subjectRisk regulationsen_US
dc.subjectPolicy analysisen_US
dc.subjectRisk reductionen_US
dc.subjectRisk-averting actionsen_US
dc.subject.lcshPolicy sciencesen_US
dc.subject.lcshSafety regulations -- Cost effectiveness -- Mathematical modelsen_US
dc.subject.lcshMortalityen_US
dc.subject.lcshRisk-taking (Psychology)en_US
dc.titleMortality Effects of Regulatory Costs and Policy Evaluation Criteriaen_US
dc.typeArticleen_US


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