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Full-Text Articles in Public Interest
Promoting Equity Through Equitable Risk Tradeoffs, W. Kip Viscusi, Thomas J. Kniesner
Promoting Equity Through Equitable Risk Tradeoffs, W. Kip Viscusi, Thomas J. Kniesner
Vanderbilt Law School Faculty Publications
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 policies in terms of equitable risk tradeoff rates based on six policy guidelines. The starting point for ex ante evaluation of equity for mortality risk policies should be the symmetric application of the value of a statistical life (VSL) to all groups. Because of the substantial heterogeneity in VSLs by income and demographic characteristics, symmetric tradeoff rates generate subsidies and deficits relative to private …
Dynamic Relationships Between Social Norms And Pro-Environmental Behavior: Evidence From Household Recycling, W. Kip Viscusi, Joel Huber, Jason Bell
Dynamic Relationships Between Social Norms And Pro-Environmental Behavior: Evidence From Household Recycling, W. Kip Viscusi, Joel Huber, Jason Bell
Vanderbilt Law School Faculty Publications
Social norms are strongly associated with pro-environmental behaviors, but the evolution and dynamic effects of norms are less well understood. This article builds on the distinction of norms being descriptive, characterizing what people actually do, or injunctive, characterizing what people should do. It identifies four categories of norms with the further distinction of whether the norms arise from the personal beliefs and actions or from the behaviors and judgments of others. The analysis uses five years of longitudinal US data that track household recycling and controls for household characteristics as well as differences in state recycling laws. The results extend …
Reforming Regulation, Ganesh Sitaraman
Reforming Regulation, Ganesh Sitaraman
Vanderbilt Law School Faculty Publications
The debate over federal regulation has long been at the center of political contests. But surprisingly, the degree of agreement about regulation is considerable. No serious commentator denies that regulation is essential to ensuring well-functioning markets; protecting the health and safety of workers and families; and preventing fraud, corruption, and theft. Smart regulation is what makes cars safe to drive, lakes and rivers safe to swim in, and food safe to eat. At the same time, every serious commentator recognizes that poorly designed regulations can be detrimental; they can stack the deck in favor of special interests, prevent competition, and …
Towards Principles And Standards For The Benefit-Cost Analysis Of Safety, W. Kip Viscusi, Scott Farrow
Towards Principles And Standards For The Benefit-Cost Analysis Of Safety, W. Kip Viscusi, Scott Farrow
Vanderbilt Law School Faculty Publications
Benefit-cost analysis (BCA) is frequently applied to decisions involving public safety which requires analyzing risk and assessing options to manage risks. Principles and standards may assist analysts, decision-makers, and the public in developing and interpreting such BCAs. Principles and standards at best represent commonly held views among a community of practice. Such views are continually evolving with advances in the field. This paper presents a modularized format towards principles and standards that may assist in focusing discussion and decisions about whether such proposals actually reflect principles and standards within the benefit-cost analysis community of practice. Among topics covered are welfare …