Open AccessBook
Economic Analysis of Accident Law
TLDR
A group of legal scholars and economists have focused on identifying the effects of accident law on people's behaviour as discussed by the authors, and Shavell's book is the definitive synthesis of research to date in this new field.Abstract:
Accident law, if properly designed, is capable of reducing the incidence of mishaps by making people act more cautiously. Scholarly writing on this branch of law traditionally has been concerned with examining the law for consistency with felt notions of right and duty. Since the 1960s, however, a group of legal scholars and economists have focused on identifying the effects of accident law on people's behaviour. Steven Shavell's book is the definitive synthesis of research to date in this new field.read more
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Formal and Real Authority in Organizations
Philippe Aghion,Jean Tirole +1 more
TL;DR: In this article, the authors developed a theory of the allocation of formal authority and real authority within organizations, and illustrated how a formally integrated structure can accommodate various degrees of "real" integration.
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Contingent valuation : a critical assessment
TL;DR: In this article, the authors present an overview and outlook on the contingent valuation measurement of non-use values, and discuss economic and legal problems using contingent valuation-based measures of nonuse value.
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Evidence from Auditors about Managers' and Auditors' Earnings Management Decisions
TL;DR: In this article, the authors report analyses of data obtained using a field-based questionnaire in which 253 auditors from one Big 5 firm recalled and described 515 specific experiences they had with clients who they believe were attempting to manage earnings.
Book
Risks and decisions for conservation and environmental management
TL;DR: In this paper, the authors present an overview of the risk management cycle in the context of value, history, perception, values, history and perception, and perception of uncertainty in risk management.
Posted Content
Utility Functions that Depend on Health Status: Estimates and Economic Implications
W. Kip Viscusi,William N. Evans +1 more
TL;DR: Taylor's series and logarithmic estimates of health state-dependent utility functions both imply that job injuries reduce one's utility and marginal utility of income, thus rejecting the monetary loss equivalent formulation Injury valuations have unitary income elasticity.
References
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Book
Judgment Under Uncertainty: Heuristics and Biases
Amos Tversky,Daniel Kahneman +1 more
TL;DR: The authors described three heuristics that are employed in making judgements under uncertainty: representativeness, availability of instances or scenarios, and adjustment from an anchor, which is usually employed in numerical prediction when a relevant value is available.
Book
The Problem of Social Cost
TL;DR: In this paper, it is argued that the suggested courses of action are inappropriate, in that they lead to results which are not necessarily, or even usually, desirable, and therefore, it is recommended to exclude the factory from residential districts (and presumably from other areas in which the emission of smoke would have harmful effects on others).
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Crime and Punishment: An Economic Approach
TL;DR: In fact, some common properties are shared by practically all legislation, and these properties form the subject matter of this essay as discussed by the authors, which is the basis for this essay. But, in spite of such diversity, some commonsense properties are not shared.
Journal ArticleDOI
Judgment Under Uncertainty: Heuristics and Biases.
TL;DR: Three heuristics that are employed in making judgements under uncertainty are described: representativeness, availability of instances or scenarios, which is often employed when people are asked to assess the frequency of a class or the plausibility of a particular development.
Book
An introduction to the principles of morals and legislation
TL;DR: Burns and Hart as mentioned in this paper published a critical edition of the works and correspondence of Jeremy Bentham (1748-1832) under the supervision of the Bentham Committee of University College London.