Risk and Self-Protection: A State-Contingent View

John Quiggin

Journal of Risk and Uncertainty, 2002, vol. 25, issue 2, 133-45

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. Copyright 2002 by Kluwer Academic Publishers

Date: 2002
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