This paper uses a national survey of 3,119 individuals to examine the effect of lung cancer risk perceptions on smoking activity. Both smokers and nonsmokers greatly overestimated the lung cancer risk of cigarette smoking, and the extent of the overestimation is much greater than the extent of...

Product liability ideally should promote efficient levels of product safety but misdirected liability efforts may depre ss beneficial innovations. This paper examines these competing effects of liability costs on product R&D intensity and new product introductio ns by manufacturing firms. At low...