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First Published in 1981. Routledge is an imprint of Taylor & Francis, an informa company.
Two related trends have created novel challenges for managing risk in the United States. The first trend is a series of dramatic changes in liability law as tort law has expanded to assign liability to defendants for reasons other than negligence. The unpredictability of future costs induced by changes in tort law may be partly responsible for the second major trend known as the `liability crisis' - the disappearance of liability protection in markets for particularly unpredictable risks. This book examines decisions people make about insurance and liability. An understanding of such decision making may help explain why the insurance crisis resulted from the new interpretations of tort law and what to do about it. The articles cover three kinds of decisions: consumer decisions to purchase insurance; insurer decisions about coverage they offer; and the decisions of the public about the liability rules they prefer, which are reflected in legislation and regulation. For each of these three kinds of decisions, normative theories such as expected utility theory can be used as benchmarks against which actual decisions are judged.
Psychologists have been observing and interpreting economic behaviour for at least fifty years, and the last decade, in particular, has seen an escalated interest in the interface between psychology and economics. The Cambridge Handbook of Psychology and Economic Behaviour is a valuable reference resource dedicated to improving our understanding of the economic mind and economic behaviour. Employing empirical methods – including laboratory experiments, field experiments, observations, questionnaires and interviews – the Handbook covers aspects of theory and method, financial and consumer behaviour, the environment and biological perspectives. With contributions from distinguished scholars from a variety of countries and backgrounds, the Handbook is an important step forward in the improvement of communications between the disciplines of psychology and economics. It will appeal to academic researchers and graduates in economic psychology and behavioural economics.
This book unites sixty-three leading researchers in the area of experimental evironmental economics and their latest explorations in its behavioural underpinnings, with the critical advantage of appealing to experimental and non experimental economists.
This pioneer work in a complex, interdisciplinary, and still-developing field explores the prospects for a more comprehensive approach to evaluating environmental programs. Experts in the fields of biology, chemistry, ecology, economics, management, planning, sociology, political science, and public administration provide coherent, integrated perspectives on the task of environmental program evaluation. The essays are organized thematically, covering institutional, scientific, economic, and administrative topics. The volume will be a valuable text for practitioners, regulators, policymakers, and scholars in the fields of program evaluation, environmental policy, and environmental science. A volume in the series The Environment and the Human Condition
Examines consumer decision-making on products and services of variable quality at the level of retail markets. Addresses for the first time consumer-producer interaction at the level of the individual consumer; issues of quality, consumption experience, and willingness-to-pay, as exhibited by individual consumers; and how these issues affect the decision-making process.
For centuries, denuded landscapes, fouled streams, and dirty air were accepted by society as part of the price that had to be paid for mineral production. Even initial environmental legislation devised by industrialized countries in the 1960s and 1970s was largely designed without mining in mind. And developing countries had little in the way of environmental policy. With the advent of sustainability in the 1990s, times have changed. Today's economic development, many now feel, must not come at the expense of an environmentally degraded future. Current policies toward mining are under rigorous review, and mineral-rich developing countries are designing environmental policies where none existed before. In Mining and the Environment, noted analysts offer viewpoints from Australia, Chile, the United Kingdom, the United States, and the European community on issues and challenges of metal mining.
If indeed scientists and technologists, especially economists, set much of the agenda by which the future is played out, and I think they do, then the student of scientific methodology and public ethics has at least three options. He can embrace certain scientific methods and the value they hold for social decisionmaking, much as Milton Friedman has accepted neoclassical econom ics. Or, he can condemn them, regardless of their value, much as Stuart Hampshire has rejected risk-cost-benefit analysis (RCBA). Finally, he can critically assess these scientific methods and attempt to provide solutions to the problems he has uncovered. As a philosopher of science seeking the middle path between unc...