A Test of the Expected Utility Model: Evidence from Earthquake Risks
作者： David S. Brookshire , Mark A. Thayer , John Tschirhart , William D. Schulze
DOI: 10.1086/261304
关键词:
摘要: The purposes of this paper are twofold. first is to demonstrate that the expected utility hypothesis a reasonable description behavior for consumers who face low-probability, high-loss natural hazard event, given they have adequate information. second in California information on earthquake hazards was generated by 1974 state law created market safe housing previously did not exist.
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