Risk and Self-Protection: A State-Contingent View |
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| Authors: | Quiggin John |
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| Affiliation: | (1) Australian Research Council Senior Fellow, Australian National University, Australia, USA |
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| Abstract: | ![]()
This article is a brief outline of the implications of state-contingent production for the self-insurance problem. A general state-contingent approach to choice and production under uncertainty is presented. Upper and lower bounds for willingness-to-pay for reductions in ambient risk are derived. |
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| Keywords: | risk environmental hazard self-protection self-insurance |
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