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Handbook of the Economics of Risk and Uncertainty
book

Handbook of the Economics of Risk and Uncertainty

by Mark Machina, W. Kip Viscusi
November 2013
Beginner content levelBeginner
896 pages
35h 10m
English
North Holland
Content preview from Handbook of the Economics of Risk and Uncertainty
Thomas J. Kniesner and John D. Leeth
506
9.3 VALUING SAFETY AND HEALTH
Because of the difficulty of conveying and processing information on hazards the gov-
ernment frequently augments market incentives to produce the appropriate level of
safety with regulations specifying product or workplace characteristics. To create the
efficient level of safety, regulations should be imposed only if the benefits of improved
safety outweigh the costs. Cost estimates of proposed safety and health standards are usu-
ally generated through accounting or engineering studies. Determining the benefits of
improved safety requires estimating a monetary value of injur ...
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Publisher Resources

ISBN: 9780444536853