at the time of purchase. The other major test that courts apply to design defects, the risk-utility test, is also not … well defined. The several factors of the risk-utility test are difficult for courts to apply consistently and permit courts … test, a defendant is liable if consumers expected such a product to reduce a particular risk, and the product in fact …

The value of a statistical life (VSL) monetizes the expected loss in well-being associated with the risk of death. The … purposes of estimating the benefits of mortality risk reduction. Compared to ordinal well-being scales, the VSL also offers a …

firearm homicide risks, and a similar number viewed them as a greater threat to the public. A risk-risk choice experiment … treated mass shooting deaths prevented as if they were 37.5% greater than the stated amounts. Risk-risk tradeoff studies and … stated preference studies more generally should account for whether respondents’ perceived risk levels differ from the risk …

market risk levels are too great. Hazard warnings policies often can address informational failures. Some market failures may … be exacerbated by government policies, particularly those embodying conservative risk assessment practices. Labor market … estimates of the value of statistical life provide a useful reference point for the efficient risk tradeoffs for government …

Will a major shock awaken US citizens to the threat of catastrophic pandemic risk? Using a natural experiment … for a pandemic disease outbreak relative to an environmental disaster risk (e.g., Fukushima) or a terrorist attack (e ….g., 9/11). After the Ebola scare, the average citizen did not over-react to the risk. This flat reaction was unexpected …