An Investigation of the Rationality of Consumer Valuations of Multiple Health Risks

Viscusi, Magat, & Huber. (1987). An Investigation of the Rationality of Consumer Valuations of Multiple Health Risks. The RAND Journal of Economics.

Type

Journal article

Intellectual base

Primary research

Year

1987

DOI

10.2307/2555636

DOI registrant

registered by a platform that did not publish the work; the publisher is not recorded

Link

https://doi.org/10.2307/2555636

Cited by

1 citation across 1 artifact.

Each citation links to the sentence it supports in the citing article.

Domain-specific

• Certainty Effect
  • The effect predicts willingness to pay substantial premiums for warranties, full insurance, and "zero-risk" regulatory options even when the residual risk being eliminated is small in expected-value terms.

    This sourceSurvey evidence that consumers pay a certainty premium for the total elimination of one risk while the value of further risk reduction diminishes.

    Supported in partVerified against the publisher's abstract

    “We also find evidence of certainty premiums for the total elimination of one risk, but no strong evidence of additional certainty premiums for the elimination of multiple risks”

    Read by an automated reader; not a human review. How support was checked

Verification

Does it exist? Not checked yet. This work's DOI is recorded above but has not been resolved against an external catalogue, so nothing here confirms the work exists.

Does it back the claim? Read against the text for 1 of 1 citation: 1 supported in part. Each verdict is shown under its citation below, with what in the work backs the sentence.

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Registry ID ref:dac44fad159d · see in the full table