Borsky, Stefan; Raschky, Paul A. - In: Kyklos 62 (2009) 2, pp. 210-225
This paper estimates the individual willingness to pay (WTP) for the option to exercise risk-taking. We use data of 69 Austrian Ski resorts and 3,637 reported ski accidents and apply the hedonic market method. Our results suggest that the individual WTP for a hypothetical increase in the...