In the expected-utility theory of the monetary value of a statistical life, the so-called "dead-anyway" effect … risk increases with the initial level of risk. Their reasoning is based on differences in the marginal utility of wealth …: first, for a risk-averse individual without a bequest motive, marginal WTP for survival does increase with the level of risk …

behavioural models suggested by psychology (i.e., weighted probabilities applied to regret and rejoice theory), and by updating …

This article reviews recent developments in revealed preference theory. It discusses the testable implications of … different qualifications depending on the functional forms in the theory under consideration …