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Test of the Expected Utility Model: Evidence from Earthquake Risks, A

journal contribution
posted on 01.01.1985, 00:00 by D. S. Brookshire, M. A. Thayer, John T. Tschirhart, W. D. Schulze
The purposes of this paper are twofold. The first is to demonstrate that the expected utility hypothesis is a reasonable description of behavior for consumers who face a low-probability, high-loss natural hazard event, given that they have adequate information. The second is to demonstrate that in California information non earthquake hazards was generated by a 1974 state law that created a market for safe housing that previously did not exist.

History

ISO

eng

Language

English

Publisher

University of Wyoming. Libraries

Journal title

Journal of Political Economy

Collection

Faculty Publications - Economics

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Faculty Publications - Economics

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Exports