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, with either a negative externality on a third participant, uncertainty about gains from cooperation, or both. Uncertainty … foster cooperation. If we combine both qualifications and do not control for beliefs, we only find an uncertainty effect. If …
Persistent link: https://www.econbiz.de/10010281843
, with either a negative externality on a third participant, uncertainty about gains from cooperation, or both. Uncertainty … foster cooperation. If we combine both qualifications and do not control for beliefs, we only find an uncertainty effect. If … expected. -- Oligopoly ; Collusion ; experiment ; Uncertainty ; negative externalities ; prisoner's dilemma …
Persistent link: https://www.econbiz.de/10008822475
decisions which businesses in ASEAN will have to face in a highly competitive environment under uncertain growth conditions, by …
Persistent link: https://www.econbiz.de/10013061529
The law requiring a patient to be informed not just of the nature of a medical procedure but also its likely but subjectively significant risks, which blazed across the southerly firmament of patients' rights in 1992 with the decision of Rogers v Whitaker (1992) 175 CLR 479, appears to have now...
Persistent link: https://www.econbiz.de/10013075494
Selfish utilitarianism, neo-classical economics, the directive of short-term income maximization, and the decision tool of cost-benefit analysis fail to protect our species from the significant risks of too much consumption, pollution, or population. For a longer-term survival, humanity needs to...
Persistent link: https://www.econbiz.de/10012969820
There is a curious absence of legal constraints on U.S. government agencies undertaking potentially risky scientific research. Some of these activities may present a risk of killing millions or even destroying the planet. Current law leaves it to agencies to decide for themselves whether their...
Persistent link: https://www.econbiz.de/10012947575
We examine how different welfarist frameworks evaluate the social value of mortality risk-reduction. These frameworks include classical, distributively unweighted cost-benefit analysis — i.e., the “value per statistical life” (VSL) approach — and three benchmark social welfare functions...
Persistent link: https://www.econbiz.de/10014170939
The opposition in a number of countries to the inclusion of nuclear energy in a sustainable energy portfolio, in part due to the dread of what the “nuclear” word inspires, has limited quantitative scientific foundation of the real benefits and risks. This has been amplified by the lack of a...
Persistent link: https://www.econbiz.de/10013491927
minimized by the efficient contract supplied by the principal. -- Environment ; Strict Liability ; Ex-Ante Regulation ; Ex …-Post Liability ; Judgment-Proof ; Environment Law ; CERCLA ; Environmental Liability …This paper studies the delegation of activities that pose serious risks to health and the environment in an economy …
Persistent link: https://www.econbiz.de/10008735714
This paper analyzes the meaning of comparing the economic performance of strict liability and negligence rule in a … unilateral standard accident model under Knightian uncertainty. It focuses on the cost expectation of major harm on which the … injurers form beliefs. It shows first that, when the Court agrees with the regulator, whatever the liability regime, the first …
Persistent link: https://www.econbiz.de/10010189329