Richard J Zeckhauser
Biographic Data
| ID | 987697 |
|---|---|
| NAME | Richard J Zeckhauser |
| GIVEN NAMES | Richard J |
| FAMILY NAME | Zeckhauser |
| SIGNATURE | ZECKHAUSER R J |
| AFFILIATIONS | Harvard University |
| VERIFIED | No |
| TOTAL WORKS | 23 |
| TOTAL CITATIONS | 53 |
| AUTHOR COUNT | 23 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1971 |
| LATEST PUBLICATION YEAR | 2020 |
| H-INDEX | 4 |
Sunlight and Protection Against Influenza
Collaborative Governance: Private Roles for Public Goals in Turbulent Times
How government can forge dynamic public-private partnerships All too often government lacks the skill, the will, and the wallet to meet its missions. Schools fall short of the mark while roads and bridges fall into disrepair. Health care costs too much and delivers too little. Budgets bleed red ink as the cost of services citizens want outstrips the taxes they are willing to pay. Collaborative Governance is the first book to offer solutions by de…
The online laboratory: Conducting experiments in a real labor market
Online labor markets have great potential as platforms for conducting experiments. They provide immediate access to a large and diverse subject pool, and allow researchers to control the experimental context. Online experiments, we show, can be just as valid—both internally and externally—as laboratory and field experiments, while often requiring far less money and time to design and conduct. To demonstrate their value, we use an online labor mar…
The Patron’s Payoff: Conspicuous Commissions in Italian Renaissance Art
Nelson, Jonathan K. and Richard J. Zeckhauser. The Patron’s Payoff: Conspicuous Commissions in Italian Renaissance Art. An article from journal Renaissance and Reformation / Renaissance et Réforme (Volume 33, Number 4, Fall 2010, pp. 3-151), on Érudit
Investing in the Unknown and Unknowable
From David Ricardo making a fortune buying British government bonds on the eve of the Battle of Waterloo to Warren Buffett selling insurance to the California earthquake authority, the wisest investors have earned extraordinary returns by investing in the unknown and the unknowable (UU). But they have done so on a reasoned, sensible basis. This essay explains some of the central principles that such investors employ. It starts by discussing “igno…
The Global Challenge of Antimicrobial Resistance: Insights from Economic Analysis
The prevalence of antimicrobial resistance (AR) limits the therapeutic options for treatment of infections, and increases the social benefit from disease prevention. Like an environmental resource, antimicrobials require stewardship. The effectiveness of an antimicrobial agent is a global public good. We argue for greater use of economic analysis as an input to policy discussion about AR, including for understanding the incentives underlying heal…
Demographic Dimensions of the New Republic: American Interregional Migration, Vital Statistics and Manumissions 1800-1860
Antibiotic resistance as a global threat: Evidence from China, Kuwait and the United States
BACKGROUND: Antimicrobial resistance is an under-appreciated threat to public health in nations around the globe. With globalization booming, it is important to understand international patterns of resistance. If countries already experience similar patterns of resistance, it may be too late to worry about international spread. If large countries or groups of countries that are likely to leap ahead in their integration with the rest of the world-…
Reference Incomes, Loss Aversion, and Physician Behavior
We examine the effects of reference income on the behavior of young male physicians. Using a unique panel of data, we relate physicians' reference and actual incomes to their subsequent income growth. Reference income has a strong positive effect on subsequent income for physicians who are below their reference points, but not for physicians who are at or above their reference points. Loss aversion, which posits a kink in utility at the reference…
Congressional Vote Options
Numerous accounts reveal that congressional leaders often secure “hip‐pocket votes” or “if you need me” pledges from rank‐and‐file legislators. These are essentially options on votes. Leaders exercise sufficient options—pay legislators to convert to favorable votes—when those options will yield victory. Otherwise, they release the options. A model shows that this optimal strategy for leaders produces many small victories, few small losses, and lo…
Willingness to Pay and the Distribution of Risk and Wealth
Willingness-to-pay is an appropriate benefits metric for government expenditure and regulatory policies that reduce risks to human life. It depends, however, on the distribution of risk and wealth. Currently, society's expenditures overemphasize concentrated risks, say after-the-fact treatment as opposed to prevention. A 'dead-anyway' effect complements excess attention to intense interests in explaining this. The normative criterion for spending…
The Risk Management Dilemma
Market processes play a central and constructive role in allocating risks, but impediments such as inaccurately perceived risks and externalities create a potential role for government intervention. Individuals overestimate small risks, are averse to imprecisely understood risks, and give excessive weight to errors of commission over errors of omission. The challenge for the government is to strike an appropriate balance in its risk regulation ef…
Hazard Communication: Warnings and Risk
Risk information can alter risk judgments and promote sound risk decisions. Hazard warnings are critical in providing such information. Both right-to-know and duty-to-warn obligations reflect this. Evidence suggests that warnings can significantly affect risk-taking decisions, but care is needed in interpreting whether their influence leads to successful outcomes. Hazard warnings must accommodate individuals' cognitive limitations. Salient proble…
Strategy and Choice
Strategy and Choice
Advertising and Entry: The Case of Physician Services
This paper examines the entry implications of physician advertising. Evidence suggests that advertising inhibited entry into this market. Nevertheless, experienced physicians (incumbents), to whom advertising would offer the greatest financial benefit, in fact advertise less--a paradox that may be explained by nonfinancial concerns, such as unwillingness to break well-internalized professional norms against advertising. Physician advertising has …
Demographic Dimensions of the New Republic: American Interregional Migration, Vital Statistics, and Manumissions, 1800-1860
Journal Article Demographic Dimensions of the New Republic: American Interregional Migration, Vital Statistics, and Manumissions, 1800–1860. By Peter D. McClelland and Richard J. Zeckhauser. (Cambridge, Eng.: Cambridge University Press, 1982. xiv + 222 pp. Map, tables, appendixes, notes, bibliography, and index. $37.50.) Get access J. William Leasure J. William Leasure San Diego State University Search for other works by this author on: Oxford Ac…
Demographic Dimensions of the New Republic: American Interregional Migration, Vital Statistics, and Manumissions, 1800-1860
Demographic Dimensions of the New Republic: American Interregional Migration, Vital Statistics, and Manumissions, 1800-1860
Demographic Dimensions of the New Republic: American Interregional Migration, Vital Statistics, and Manumissions, 1800-1860
This book provides the first comprehensive and consistent analysis of vital statistics and migration patterns for the United States between the Revolution and the Civil War. It is anchored in the one available source for nationwide estimates the decennial censuses. It attempts to provide for black and white populations a consistent set of estimates of birth and death rates rates of natural increase and net international and interregional flows. F…
Inferences from Alarming Events
An extreme event, such as a nuclear accident, an earthquake, a cluster of adverse reactions to a particular drug, or excessive breakdowns of some class of equipment, frequently focuses attention for the first time on an important issue. By then, however, data on the incidence and magnitudes of relevant past events may be unavailable or too costly to reconstruct. Using a simple probability model, we derive methods for drawing statistical inference…
Economics and health care
A Tale of Probable Regions: A Statistical Fable
Congressional Vote Options
Numerous accounts reveal that congressional leaders often secure “hip‐pocket votes” or “if you need me” pledges from rank‐and‐file legislators. These are essentially options on votes. Leaders exercise sufficient options—pay legislators to convert to favorable votes—when those options will yield victory. Otherwise, they release the options. A model shows that this optimal strategy for leaders produces many small victories, few small losses, and lo…
Willingness to Pay and the Distribution of Risk and Wealth
Willingness-to-pay is an appropriate benefits metric for government expenditure and regulatory policies that reduce risks to human life. It depends, however, on the distribution of risk and wealth. Currently, society's expenditures overemphasize concentrated risks, say after-the-fact treatment as opposed to prevention. A 'dead-anyway' effect complements excess attention to intense interests in explaining this. The normative criterion for spending…
Hazard Communication: Warnings and Risk
Risk information can alter risk judgments and promote sound risk decisions. Hazard warnings are critical in providing such information. Both right-to-know and duty-to-warn obligations reflect this. Evidence suggests that warnings can significantly affect risk-taking decisions, but care is needed in interpreting whether their influence leads to successful outcomes. Hazard warnings must accommodate individuals' cognitive limitations. Salient proble…
The Risk Management Dilemma
Market processes play a central and constructive role in allocating risks, but impediments such as inaccurately perceived risks and externalities create a potential role for government intervention. Individuals overestimate small risks, are averse to imprecisely understood risks, and give excessive weight to errors of commission over errors of omission. The challenge for the government is to strike an appropriate balance in its risk regulation ef…
Demographic Dimensions of the New Republic: American Interregional Migration, Vital Statistics, and Manumissions, 1800-1860
This book provides the first comprehensive and consistent analysis of vital statistics and migration patterns for the United States between the Revolution and the Civil War. It is anchored in the one available source for nationwide estimates the decennial censuses. It attempts to provide for black and white populations a consistent set of estimates of birth and death rates rates of natural increase and net international and interregional flows. F…
Inferences from Alarming Events
An extreme event, such as a nuclear accident, an earthquake, a cluster of adverse reactions to a particular drug, or excessive breakdowns of some class of equipment, frequently focuses attention for the first time on an important issue. By then, however, data on the incidence and magnitudes of relevant past events may be unavailable or too costly to reconstruct. Using a simple probability model, we derive methods for drawing statistical inference…
Advertising and Entry: The Case of Physician Services
This paper examines the entry implications of physician advertising. Evidence suggests that advertising inhibited entry into this market. Nevertheless, experienced physicians (incumbents), to whom advertising would offer the greatest financial benefit, in fact advertise less--a paradox that may be explained by nonfinancial concerns, such as unwillingness to break well-internalized professional norms against advertising. Physician advertising has …
A Tale of Probable Regions: A Statistical Fable
Economics and health care
Inferences from Alarming Events
An extreme event, such as a nuclear accident, an earthquake, a cluster of adverse reactions to a particular drug, or excessive breakdowns of some class of equipment, frequently focuses attention for the first time on an important issue. By then, however, data on the incidence and magnitudes of relevant past events may be unavailable or too costly to reconstruct. Using a simple probability model, we derive methods for drawing statistical inference…
Demographic Dimensions of the New Republic: American Interregional Migration, Vital Statistics, and Manumissions, 1800-1860
This book provides the first comprehensive and consistent analysis of vital statistics and migration patterns for the United States between the Revolution and the Civil War. It is anchored in the one available source for nationwide estimates the decennial censuses. It attempts to provide for black and white populations a consistent set of estimates of birth and death rates rates of natural increase and net international and interregional flows. F…
Demographic Dimensions of the New Republic: American Interregional Migration, Vital Statistics, and Manumissions, 1800-1860
Journal Article Demographic Dimensions of the New Republic: American Interregional Migration, Vital Statistics, and Manumissions, 1800–1860. By Peter D. McClelland and Richard J. Zeckhauser. (Cambridge, Eng.: Cambridge University Press, 1982. xiv + 222 pp. Map, tables, appendixes, notes, bibliography, and index. $37.50.) Get access J. William Leasure J. William Leasure San Diego State University Search for other works by this author on: Oxford Ac…
Demographic Dimensions of the New Republic: American Interregional Migration, Vital Statistics, and Manumissions, 1800-1860
Demographic Dimensions of the New Republic: American Interregional Migration, Vital Statistics, and Manumissions, 1800-1860
Advertising and Entry: The Case of Physician Services
This paper examines the entry implications of physician advertising. Evidence suggests that advertising inhibited entry into this market. Nevertheless, experienced physicians (incumbents), to whom advertising would offer the greatest financial benefit, in fact advertise less--a paradox that may be explained by nonfinancial concerns, such as unwillingness to break well-internalized professional norms against advertising. Physician advertising has …
Strategy and Choice
Strategy and Choice
Willingness to Pay and the Distribution of Risk and Wealth
Willingness-to-pay is an appropriate benefits metric for government expenditure and regulatory policies that reduce risks to human life. It depends, however, on the distribution of risk and wealth. Currently, society's expenditures overemphasize concentrated risks, say after-the-fact treatment as opposed to prevention. A 'dead-anyway' effect complements excess attention to intense interests in explaining this. The normative criterion for spending…
The Risk Management Dilemma
Market processes play a central and constructive role in allocating risks, but impediments such as inaccurately perceived risks and externalities create a potential role for government intervention. Individuals overestimate small risks, are averse to imprecisely understood risks, and give excessive weight to errors of commission over errors of omission. The challenge for the government is to strike an appropriate balance in its risk regulation ef…
Hazard Communication: Warnings and Risk
Risk information can alter risk judgments and promote sound risk decisions. Hazard warnings are critical in providing such information. Both right-to-know and duty-to-warn obligations reflect this. Evidence suggests that warnings can significantly affect risk-taking decisions, but care is needed in interpreting whether their influence leads to successful outcomes. Hazard warnings must accommodate individuals' cognitive limitations. Salient proble…
Reference Incomes, Loss Aversion, and Physician Behavior
We examine the effects of reference income on the behavior of young male physicians. Using a unique panel of data, we relate physicians' reference and actual incomes to their subsequent income growth. Reference income has a strong positive effect on subsequent income for physicians who are below their reference points, but not for physicians who are at or above their reference points. Loss aversion, which posits a kink in utility at the reference…
Congressional Vote Options
Numerous accounts reveal that congressional leaders often secure “hip‐pocket votes” or “if you need me” pledges from rank‐and‐file legislators. These are essentially options on votes. Leaders exercise sufficient options—pay legislators to convert to favorable votes—when those options will yield victory. Otherwise, they release the options. A model shows that this optimal strategy for leaders produces many small victories, few small losses, and lo…
Antibiotic resistance as a global threat: Evidence from China, Kuwait and the United States
BACKGROUND: Antimicrobial resistance is an under-appreciated threat to public health in nations around the globe. With globalization booming, it is important to understand international patterns of resistance. If countries already experience similar patterns of resistance, it may be too late to worry about international spread. If large countries or groups of countries that are likely to leap ahead in their integration with the rest of the world-…
Demographic Dimensions of the New Republic: American Interregional Migration, Vital Statistics and Manumissions 1800-1860
Investing in the Unknown and Unknowable
From David Ricardo making a fortune buying British government bonds on the eve of the Battle of Waterloo to Warren Buffett selling insurance to the California earthquake authority, the wisest investors have earned extraordinary returns by investing in the unknown and the unknowable (UU). But they have done so on a reasoned, sensible basis. This essay explains some of the central principles that such investors employ. It starts by discussing “igno…
The Global Challenge of Antimicrobial Resistance: Insights from Economic Analysis
The prevalence of antimicrobial resistance (AR) limits the therapeutic options for treatment of infections, and increases the social benefit from disease prevention. Like an environmental resource, antimicrobials require stewardship. The effectiveness of an antimicrobial agent is a global public good. We argue for greater use of economic analysis as an input to policy discussion about AR, including for understanding the incentives underlying heal…
The online laboratory: Conducting experiments in a real labor market
Online labor markets have great potential as platforms for conducting experiments. They provide immediate access to a large and diverse subject pool, and allow researchers to control the experimental context. Online experiments, we show, can be just as valid—both internally and externally—as laboratory and field experiments, while often requiring far less money and time to design and conduct. To demonstrate their value, we use an online labor mar…
The Patron’s Payoff: Conspicuous Commissions in Italian Renaissance Art
Nelson, Jonathan K. and Richard J. Zeckhauser. The Patron’s Payoff: Conspicuous Commissions in Italian Renaissance Art. An article from journal Renaissance and Reformation / Renaissance et Réforme (Volume 33, Number 4, Fall 2010, pp. 3-151), on Érudit
Collaborative Governance: Private Roles for Public Goals in Turbulent Times
How government can forge dynamic public-private partnerships All too often government lacks the skill, the will, and the wallet to meet its missions. Schools fall short of the mark while roads and bridges fall into disrepair. Health care costs too much and delivers too little. Budgets bleed red ink as the cost of services citizens want outstrips the taxes they are willing to pay. Collaborative Governance is the first book to offer solutions by de…
Sunlight and Protection Against Influenza
Economics (15 works) · Business (8 works) · Political science (8 works) · Demography (7 works) · Mathematics (7 works) · Computer Science (6 works) · Law (5 works) · Medicine (5 works) · Sociology (5 works) · Demographic economics (4 works)