in American Law and Economics Review
January 2011; p ublished online April 2011 .
Journal Article. Subjects: Information, Knowledge, and Uncertainy; Welfare Economics; Economics of Health; Law and Economics; Tort Law. 21676 words.
When people face risk of death, they overinvest in risk reduction: first, they discount their risk-reduction costs by the probability of death; second, they consider the consumption of...