An economic analysis of severe industrial hazards /
The book is concerned with the economics of potentially fatal industrial hazards, namely the prospect of very unlikely, yet catastrophic, incidents. The first part of the analysis is devoted to the microeconomic representation of the relevant risk-preference patterns displayed by both endangered ind...
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| Format: | eBook |
| Language: | English |
| Published: |
Heidelberg ; New York :
Physica-Verlag,
[1993]
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| Series: | Microeconomic studies.
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| Subjects: | |
| Online Access: | Connect to the full text of this electronic book |
| Summary: | The book is concerned with the economics of potentially fatal industrial hazards, namely the prospect of very unlikely, yet catastrophic, incidents. The first part of the analysis is devoted to the microeconomic representation of the relevant risk-preference patterns displayed by both endangered individuals as well as insurers exposed to risk on the basis of the von Neumann-Morgenstern framework. The second part is concernedwith a standard microeconomic assessment of the welfare-impact of industrialfacilities constituting a severe industrial hazard. Particular attentionis paid to the economic investigation into insurance regulatory policy-instruments aimed at correcting risk-externalities created by the risk-emiting sector. Thus, the book serves two primary objectives: First, a better theoretical understanding and modelling of the economic nature of the problem constituted by severe industrial hazards. Second, developing regulatory concepts of optimally coping with it by means of adroitly instrumentalizing the incentives provided by the insurance sector and the law of tort. |
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| Item Description: | Electronic resource. |
| Physical Description: | 1 online resource (xiii, 271 pages) : illustrations. |
| Format: | Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |
| Bibliography: | Includes bibliographical references (pages 259-271). |
| ISBN: | 9783642958984 (electronic bk.) 3642958982 (electronic bk.) |