To summarize our chapter, we begin by developing the economic theory of market
wages for jobs that involve health risks and market prices for products that may injure
the consumers who use them. Once we explain how labor and product markets allocate
and implicitly price jointly produced risks to health, we explicate how various forms
of government interventions, information, tort liability laws, direct regulation of job
and product attributes, and mandatory no-fault insurance to compensate injured parties
affect safety outcomes and individuals’ economic well-being. We then consider available
econometr
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