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

Brookshire, D. S.
Thayer, M. A.
Tschirhart, John T.
Schulze, W. D.
Abstract
Description
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.
Date
1985-01-01
Journal Title
Journal ISSN
Volume Title
Publisher
University of Wyoming. Libraries