Tagged: Bill Kaye-Blake

Safety preferences - The Dismal Science

Eric Crampton May 06, 2013

Economists know a few things. Among the things I think we know:People generally require compensation to take on a known risk of death or injury: safety is a good for most people; As people get richer, they require more compensation to take on a risk of given size: safety is a superior good; Risk-tolerance is heterogeneous across individuals, and not … Read More