Survey respondents assessed the risks of terrorist attacks and their consequences and were asked how their assessments changed from before September 11 to the present. This paper analyzes those current and recollected risk assessments. More than half of the respondents exhibited what we label...

Examining issues related to the social regulation of risk, this volume contains essays on the value of life, empirical estimates of the value of life, the rationality of individual responses to risk, the effect of government risk regulation efforts, and the role of the courts and insurance

The 1998 out-of-court settlements of litigation by the states against the cigarette industry totaled 243 billion, making it the largest payoff ever in our civil justice system. Two key questions drove the lawsuits and the attendant settlement: Do smokers understand the risks of smoking? And does...