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Erschienen in:
1993 | OriginalPaper | Buchkapitel
‘Catastrophiness’ of Physical Risks
verfasst von : Dr. Immo Querner
Erschienen in: An Economic Analysis of Severe Industrial Hazards
Verlag: Physica-Verlag HD
Enthalten in: Professional Book Archive
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As mentioned in the introduction, it has been established for a long time (see e.g. J. Ferreira (jr.) and L. Slesin [1976]) that, generally speaking, people display the following physical risk preference-pattern: They ‘prefer’ the prospect of comparatively likely accidents entailing only a few fatalities to the prospect of unlikely accidents entailing many fatalities, given the ex ante expected number of fatalities and thus the individual death probability is equal in both cases.