The majority of light aviation aircrafts cabins are unpressurised and this may pose risks for the safety of both pilots and passengers. As altitude increases partial oxygen pressure decreases and this situation may lead to early stages of hypoxia affecting pilot's capabilities to perform simple...

Do firms have adequate incentives to invest in anti-terrorism mechanisms? This paper develops a framework for addressing this issue when the security choices by one agent affect the risks faced by others. We utilize the airline security problem to illustrate how the incentive by one airline to...