Resource allocations of all kinds inevitably encounter financial constraints, making it infeasible to make financially unbounded commitments. Such resource constraints arise in almost all health and safety risk contexts, which has led to a regulatory oversight process to ascertain whether the...

This paper provides a systematic review of the economic analysis of health, safety, and environmental regulations. Although the market failures that give rise to a rationale for intervention are well known, not all market failures imply that market risk levels are too great. Hazard warnings...

This chapter provides an overview of the current methodology for assessing environmental health risks. Our primary focus is on the practices that U.S. regulatory agencies use for assessing cancer risk, although we also provide a brief comparison to the methodology used in Western Europe. We then...

This paper examines the relationship between risk attitudes and individual rates of time preference. We find that heterogeneous risk preferences and their allied behaviors are correlated with differences in individual discount rates. To illustrate our theory we examine the rates of time...

This article provides a response to the opponents of monetization of risk and environmental benefits, such as the authors of "Priceless: On Knowing the Price of Everything and the Value of Nothing." Putting benefit values in dollar terms ensures that there will be full recognition of these...

As we understand it, the D.C. Circuit did not allow the EPA to consider the costs of complying with ozone and PM NAAQS. As we further understand it, this legal ruling can be overturned only by this Court. As economists, we believe that the D.C. Circuit's ruling not allowing the EPA to consider...

Four years ago, Magat, Huber, Viscusi, and Bell (2000) reported pretest results that introduced an iterative choice approach to valuing water quality improvements. This paper applies this approach to a nationally representative sample of over 1,000 respondents. We find that the method provides...

Results using an original data set indicate women receive more promotions than men. The frequency of promotions is linked to whether the woman had previously quit a job because of her husband's job move. Promotions significantly increase wages for men but not for women. These findings are...

This paper reports the distribution of doctoral degrees in economics and in other fields among faculty at the 26 highest ranked law schools. Almost one-third of professors at the top 13 law schools have a Ph.D. degree, with nine percent having a Ph.D. in economics. Law school rank is highly...