W. Kip Viscusi
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View article: Managed Expectations Theory: Ex ante likelihoods influence ex post utilities
Managed Expectations Theory: Ex ante likelihoods influence ex post utilities Open
Daniel Kahneman, often in collaboration with Amos Tversky, developed foundational frameworks for understanding human decision-making. Building on that tradition, this article proposes that individuals’ ex ante assessments of the likelihood…
View article: Valuing Heat-Related Mortality Risks
Valuing Heat-Related Mortality Risks Open
Heat-related mortality risks are a substantial component of the looming costs of climate change in the United States and globally. This article presents the results from a risk-risk survey to test whether U.S. respondents place a valuation…
View article: Viscusi Circular A-4 Peer Review Comments and Guidance for Future Revisions
Viscusi Circular A-4 Peer Review Comments and Guidance for Future Revisions Open
This article presents my 2023 peer review panel comments on the 2023 Office of Management and Budget (OMB) Circular A-4 and offers recommendations for future revisions of this circular. The Prologue section introduces my official peer revi…
View article: Embryonic Option-hood
Embryonic Option-hood Open
View article: Employer Monopsony Power Does Not Reduce the Value of a Statistical Life
Employer Monopsony Power Does Not Reduce the Value of a Statistical Life Open
View article: Embryonic Personhood's Threat to Conception
Embryonic Personhood's Threat to Conception Open
View article: Embryonic Option-hood
Embryonic Option-hood Open
View article: Employer Monopsony Power Does Not Reduce the Value of a Statistical Life
Employer Monopsony Power Does Not Reduce the Value of a Statistical Life Open
View article: Market versus policy responses to novel occupational risks
Market versus policy responses to novel occupational risks Open
The unprecedented occupational risks posed by the COVID‐19 pandemic prompted employers to boost wages and federal authorities to propose hazard pay policies. This article estimates a market‐based compensating differential for workers facin…
View article: A Tale of the Tails: The Value of a Statistical Life at the Tails of the Age Distribution
A Tale of the Tails: The Value of a Statistical Life at the Tails of the Age Distribution Open
The considerable literature on the value of a statistical life (VSL) documents the wage-mortality risk trade-offs for the working population. Regulatory analyses often must monetize risks to populations at the tails of the age distribution…
View article: Why OMB's Social Welfare Function Is Not Society's Social Welfare Function
Why OMB's Social Welfare Function Is Not Society's Social Welfare Function Open
View article: A Constitutional False Claims Act
A Constitutional False Claims Act Open
View article: A Tale of the Tails: The Value of a Statistical Life at the Tails of the Age Distribution
A Tale of the Tails: The Value of a Statistical Life at the Tails of the Age Distribution Open
View article: Why Office of Management and Budget’s (OMB) Social Welfare Function Is Not Society’s Social Welfare Function
Why Office of Management and Budget’s (OMB) Social Welfare Function Is Not Society’s Social Welfare Function Open
In 2023, the U.S. Office of Management and Budget (OMB) issued guidance documents that specified new procedures for assessing prospective government regulations (Circular A-4) and economic policies more generally (Circular A-94). These rev…
View article: Equitable Assignment of Standing for Intergenerational and International Environmental Policies
Equitable Assignment of Standing for Intergenerational and International Environmental Policies Open
View article: Valuing Heat-Related Mortality Risks
Valuing Heat-Related Mortality Risks Open
View article: The Social Discount Rate: Legal and Philosophical Underpinnings
The Social Discount Rate: Legal and Philosophical Underpinnings Open
Discounting of deferred impacts of government policies is a long-established practice that has been the target of substantial litigation and continued philosophical debate. Legal challenges to the social rate of discount have resulted in g…
View article: A Balanced Prescription for More Effective Environmental Regulations
A Balanced Prescription for More Effective Environmental Regulations Open
Government agencies increasingly base the structure and approval of environmental regulations on a benefit-cost test. For regulations that pass this test, total benefits exceed total costs. Under a benefit-cost framework, the degree of reg…
View article: The global COVID-19 mortality cost report card: 2020, 2021, and 2022
The global COVID-19 mortality cost report card: 2020, 2021, and 2022 Open
The United States is the country with the greatest number of COVID-19 deaths in 2020, 2021, and 2022. Both the U.S. and the world exhibited an increase in the number of COVID-related deaths in 2021 and a decrease in 2022. The U.S. share of…
View article: Issue Information
Issue Information Open
View article: When Patients are Assailants: Valuing Occupational Risks in Health Care
When Patients are Assailants: Valuing Occupational Risks in Health Care Open
Intentional violence against healthcare workers inflicts a physical and mental toll, motivating legislative proposals to better regulate these occupational risks. This article uses this context to address two novel issues for benefit asses…
View article: The Value of Objective Characteristics to Predict the Extent of Household Recycling
The Value of Objective Characteristics to Predict the Extent of Household Recycling Open
View article: Market Versus Policy Responses to Novel Occupational Risks
Market Versus Policy Responses to Novel Occupational Risks Open
View article: When Patients Are Assailants: Valuing Occupational Risks in Health Care
When Patients Are Assailants: Valuing Occupational Risks in Health Care Open
View article: Differences by Race and Ethnicity in Title IX’s Effect on Women’s Health
Differences by Race and Ethnicity in Title IX’s Effect on Women’s Health Open
Title IX greatly expanded adolescent females’ participation in athletic activities, which may have led to health benefits that extend into later life. Previous research has not explored whether health benefits arising from Title IX differ …
View article: Seven Recommendations for Pricing Greenhouse Gas Emissions
Seven Recommendations for Pricing Greenhouse Gas Emissions Open
The social cost of greenhouse gases is important in many regulatory impact analyses. However, calculations of the social cost of greenhouse gases are highly complex and periodically revisited. We offer seven recommendations to improve curr…
View article: BCA volume 14 issue 3 Cover and Front matter
BCA volume 14 issue 3 Cover and Front matter Open
View article: Promoting Equity through Equitable Risk Tradeoffs
Promoting Equity through Equitable Risk Tradeoffs Open
The impact and economic merits of President Biden’s Executive Order 13985 on equity depend on how the executive order is implemented. While policy discussion to date has focused on equitable outcomes, we propose framing risk equity policie…
View article: Issue Information
Issue Information Open
View article: Issue Information
Issue Information Open