FACW_ECON_1985_1537534X_Brookshire_Thayer_Tschirhart_Schulze.pdf (15.78 MB)
Download fileTest of the Expected Utility Model: Evidence from Earthquake Risks, A
journal contribution
posted on 15.11.2021, 21:28 by D. S. Brookshire, M. A. Thayer, John T. Tschirhart, W. D. SchulzeThe 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.
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engLanguage
EnglishPublisher
University of Wyoming. LibrariesJournal title
Journal of Political EconomyCollection
Faculty Publications - EconomicsDepartment
- Library Sciences - LIBS