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Valuing risks of death from terrorism and natural disasters

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  • W. Viscusi

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  • W. Viscusi, 2009. "Valuing risks of death from terrorism and natural disasters," Journal of Risk and Uncertainty, Springer, vol. 38(3), pages 191-213, June.
  • Handle: RePEc:kap:jrisku:v:38:y:2009:i:3:p:191-213
    DOI: 10.1007/s11166-009-9068-y
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    References listed on IDEAS

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    1. Howard C. Kunreuther & Erwann O. Michel-Kerjan, 2007. "Evaluating The Effectiveness of Terrorism Risk Financing Solutions," NBER Working Papers 13359, National Bureau of Economic Research, Inc.
    2. Joel Huber and Kenneth Train., 2000. "On the Similarity of Classical and Bayesian Estimates of Individual Mean Partworths," Economics Working Papers E00-289, University of California at Berkeley.
    3. Heberlein, Thomas A. & Wilson, Matthew A. & Bishop, Richard C. & Schaeffer, Nora Cate, 2005. "Rethinking the scope test as a criterion for validity in contingent valuation," Journal of Environmental Economics and Management, Elsevier, vol. 50(1), pages 1-22, July.
    4. Alberto Abadie & Javier Gardeazabal, 2003. "The Economic Costs of Conflict: A Case Study of the Basque Country," American Economic Review, American Economic Association, vol. 93(1), pages 113-132, March.
    5. Thomas Eisensee & David Strömberg, 2007. "News Droughts, News Floods, and U. S. Disaster Relief," The Quarterly Journal of Economics, Oxford University Press, vol. 122(2), pages 693-728.
    6. Smith, V. Kerry & Osborne, Laura L., 1996. "Do Contingent Valuation Estimates Pass a "Scope" Test? A Meta-analysis," Journal of Environmental Economics and Management, Elsevier, vol. 31(3), pages 287-301, November.
    7. Kaplow, Louis, 1995. "A note on subsidizing gifts," Journal of Public Economics, Elsevier, vol. 58(3), pages 469-477, November.
    8. W. Viscusi & Richard Zeckhauser, 2006. "National survey evidence on disasters and relief: Risk beliefs, self-interest, and compassion," Journal of Risk and Uncertainty, Springer, vol. 33(1), pages 13-36, September.
    9. Christina M. Fong & Erzo F.P. Luttmer, 2007. "What Determines Giving to Hurricane Katrina Victims? Experimental Evidence on Income, Race, and Fairness," NBER Working Papers 13219, National Bureau of Economic Research, Inc.
    10. Okmyung Bin & Thomas W. Crawford & Jamie B. Kruse & Craig E. Landry, 2008. "Viewscapes and Flood Hazard: Coastal Housing Market Response to Amenities and Risk," Land Economics, University of Wisconsin Press, vol. 84(3), pages 434-448.
    11. Abadie, Alberto & Dermisi, Sofia, 2008. "Is terrorism eroding agglomeration economies in Central Business Districts? Lessons from the office real estate market in downtown Chicago," Journal of Urban Economics, Elsevier, vol. 64(2), pages 451-463, September.
    12. Matthew Kahn, 2007. "Environmental disasters as risk regulation catalysts? The role of Bhopal, Chernobyl, Exxon Valdez, Love Canal, and Three Mile Island in shaping U.S. environmental law," Journal of Risk and Uncertainty, Springer, vol. 35(1), pages 17-43, August.
    13. Jones-Lee, M W & Loomes, G, 1995. "Scale and Context Effects in the Valuation of Transport Safety," Journal of Risk and Uncertainty, Springer, vol. 11(3), pages 183-203, December.
    14. Wesley A. Magat & W. Kip Viscusi & Joel Huber, 1996. "A Reference Lottery Metric for Valuing Health," Management Science, INFORMS, vol. 42(8), pages 1118-1130, August.
    15. Hallstrom, Daniel G. & Smith, V. Kerry, 2005. "Market responses to hurricanes," Journal of Environmental Economics and Management, Elsevier, vol. 50(3), pages 541-561, November.
    16. Gary S. Becker & Yona Rubinstein, 2011. "Fear and the Response to Terrorism: An Economic Analysis," CEP Discussion Papers dp1079, Centre for Economic Performance, LSE.
    17. Fischhoff, Baruch & Gonzalez, Roxana M. & Small, Deborah A. & Lerner, Jennifer S., 2003. "Judged Terror Risk and Proximity to the World Trade Center," Journal of Risk and Uncertainty, Springer, vol. 26(2-3), pages 137-151, March-May.
    18. Chilton, Susan & Covey, Judith & Hopkins, Lorraine & Jones-Lee, Michael & Loomes, Graham & Pidgeon, Nick & Spencer, Anne, 2002. "Public Perceptions of Risk and Preference-Based Values of Safety," Journal of Risk and Uncertainty, Springer, vol. 25(3), pages 211-232, November.
    19. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
    20. Enders, Walter & Sandler, Todd, 1996. "Terrorism and Foreign Direct Investment in Spain and Greece," Kyklos, Wiley Blackwell, vol. 49(3), pages 331-352.
    21. Colin F. Camerer & Howard Kunreuther, 1989. "Decision processes for low probability events: Policy implications," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 8(4), pages 565-592.
    22. Jahn K. Hakes & W. Kip Viscusi, 2007. "Automobile Seatbelt Usage and the Value of Statistical Life," Southern Economic Journal, John Wiley & Sons, vol. 73(3), pages 659-676, January.
    23. Kip Viscusi, W. & Magat, Wesley A. & Huber, Joel, 1991. "Pricing environmental health risks: survey assessments of risk-risk and risk-dollar trade-offs for chronic bronchitis," Journal of Environmental Economics and Management, Elsevier, vol. 21(1), pages 32-51, July.
    24. Viscusi, W Kip & Zeckhauser, Richard J, 2003. "Sacrificing Civil Liberties to Reduce Terrorism Risks," Journal of Risk and Uncertainty, Springer, vol. 26(2-3), pages 99-120, March-May.
    25. Howard Kunreuther & Erwann Michel-Kerjan, 2004. "Policy Watch: Challenges for Terrorism Risk Insurance in the United States," Journal of Economic Perspectives, American Economic Association, vol. 18(4), pages 201-214, Fall.
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    More about this item

    Keywords

    Risk tradeoffs; Terrorism; Natural disasters; Dread; Hurricane Katrina; 9/11 attack; D61; D62; D64; H41; H56;
    All these keywords.

    JEL classification:

    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy; Intergenerational Transfers
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War

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