Nervous Nellies and Dangerous Dans
Bibliographic Data
| ID | 11682263 |
|---|---|
| Authors | David Hemenway (0000-0002-8125-1690, corresponding author) |
| Year | 1993 |
| Volume | 12 |
| Issue | 2 |
| Pages | 359-359 |
| Publication date | 1993-01-01 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Policy Analysis and Management (JOURNAL) |
| Journal identifiers | ISSN: 0276-8739 • E-ISSN: 1520-6688 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.2307/3325240 |
| OpenAlex | W2000478098 |
| Language | EN |
| Citations received | 1 |
| References cited | 2 |
Two well-known and related reasons for safety regulations are the existence of externalities and moral hazard. An externality can occur if a person's failure to take safety precautions reduces the health or safety of others. Moral hazard can occur if insurance insulates an individual from the true cost of accidents. If moral hazard and/or externalities are present, the individual may not sufficiently take the costs of carelessness into account, and therefore may not take sufficient care. By requiring the individual to exert care, regulations can help restore behavior to the social optimum. This article does not discuss all the pros and cons of safety legislation. Instead the intent is to introduce two related concepts into the debate--concepts that tend to support mandatory safety regulations. The concepts, termed selective recruitment and propitious selection, are based on differences among individuals in their preference for risk
Business · Criminology · Nervous system · Political science · Law, Economics, and Judicial Systems · Medical Malpractice and Liability Issues · Neuroscience · Psychology · Traffic and Road Safety
| Citations per year | 0.08 |
|---|---|
| Citation span | 2013 - 2013 (1) |
| Highly cited | No |