Brookshire, D. S.Thayer, M. A.Tschirhart, John T.Schulze, W. D.2024-02-082024-02-081985-01-01https://wyoscholar.uwyo.edu/handle/internal/1538https://doi.org/10.15786/wyoscholar/9671The 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.enghttps://creativecommons.org/licenses/by/4.0/Economicsjournal contribution10.1086/261304