In the expected-utility theory of the monetary value of a statistical life, the so-called dead-anyway effect discovered … risk increases with the initial level of risk. Their reasoning is based on differences in the marginal utility of wealth …: first, for a risk-averse individual without a bequest motive, marginal WTP for survival does increase with the level of risk …

In the expected-utility theory of the monetary value of a statistical life, the so-called "dead-anyway" effect … risk increases with the initial level of risk. Their reasoning is based on differences in the marginal utility of wealth …: first, for a risk-averse individual without a bequest motive, marginal WTP for survival does increase with the level of risk …

A new model of exchange is presented following Marr's conception of a "computational theory". The model combines … assumptions from perceptual theory and economic theory to develop a highly generalised formal model. The approach departs from … regarding the variability of potential bids and offers. The analysis shows how optimising agents, with no aversion to risk or …