Investigation of Market Performance
By (author) W. Kip Viscusi
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Employment Hazards by W. Kip Viscusi
Book DescriptionThe safety of the work place is now a highly visible public issue. Many are calling for tighter regulation to reduce worker risk, while others feel government intervention is ineffective and costly. Here Kip Viscusi explores how well markets for hazardous jobs actually work. According to classical economics, other things being equal, a worker will demand more pay for a hazardous job than a safe one. However, this assumes that job related hazards are known, when often they are not. Using recent advances in the economics of information, Viscusi develops a theory of individual responses to job hazards under conditions of uncertainty.His assumptions are that hazards are uncertain events and that learning about them is a process that takes place over time. He then employs this analysis to study the performance of job markets in matching persons and jobs and in compensating persons for exposure to hazards. Finally he tests his adaptive model of the decision to quit and finds substantial evidence that risks are indeed reflected in wage differentials and quit behavior.
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Book DetailsISBN: 9780674251762
(220mm x 140mm x 29mm)
Imprint: Harvard University Press
Publisher: Harvard University Press
Publish Date: 1-Jul-1990
Country of Publication: United States
Books By Author W. Kip Viscusi
Handbook of the Economics of Risk and Uncertainty, Hardback (November 2013)
Presents coherent summaries of risk and uncertainty that inform major areas in economics and finance. This title divides coverage between theoretical, empirical, and experimental findings. It makes the economics of risk and uncertainty accessible to scholars in fields outside economics.
Economics of Regulation and Antitrust, Hardback (September 2005)
A substantially revised and updated new edition of the leading text on business and government, with new material reflecting recent theoretical and methodological advances; includes further coverage of the Microsoft antitrust case, the deregulation of telecommunications and electric power, and new environmental regulations.
Smoke-filled Rooms, Hardback (June 2002)» View all books by W. Kip Viscusi
Viscusi's assessment of the tobacco industry and how the individuals understanding of the risks involved in smoking runs against conventional thinking. He enters the debate about the legal, financial and social consequences of the industry with a realistic and informed post-mortem.
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Author Biography - W. Kip Viscusi
W. Kip Viscusi is George G. Allen Professor of Economics at Duke University and Associate Reporter on the American Law Institute tort liability reform project
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