Wealth equivalents, risk aversion and the marginal benefit from increased safety
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Authors
Block, Michael Kent
Lind, Robert C.
Subjects
Wealth equivalents
Safety decisions
Risk aversion
Safety decisions
Risk aversion
Advisors
Date of Issue
1974-05
Date
Publisher
Monterey, CA; Naval Postgraduate School
Language
Abstract
In the paper it is shown that if a wealth equivalent to an undesirable event exists, then the assumption of risk aversion has strong and interesting implications for safety decisions. In addition, the authors set forth sufficient conditions for the existence of a wealth equivalent to a nonmonetary and undesirable event. (Author)
Type
Technical Report
Description
Series/Report No
Organization
Identifiers
NPS Report Number
NPS-55Xb74051
Sponsors
supported in part by the Foundation Research Program of the Naval Postgraduate School
Funding
funds provided by the Chief of Naval Research
Format
Citation
Distribution Statement
Rights
This publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.