General rule on the costs of regualtion: Every $15 mil. decline in wealth
leads to loss of 1statistical life.
See Lutter, Morall, and Viscusi
Economic Inquiry, Volume 37, Issue 4, pp. 599-608
>From Abstract:
"Using new empirical estimates for the income elasticity of many of the most
consequent
One could also argue that the current bills being considered for airport
security are killing people. More bags scanned, more security workers, and
higher salaries for them will result in higher ticket prices. This raises
the cost of flying and thus more people drive on their vacations- a much
r
Here is a nice article on the odds of various events and terrorist
related odds. It's familiar material to this audience but might make a
good discussion item in a class.
Best
Alex
http://www.washingtonpost.com/wp-dyn/articles/A7812-2001Nov23.html
--
Dr. Alexander Tabarrok
Vice President and
Bryan Caplan wrote:
> > You sound like someone who likes Japanese food complaining that there
> > are too many Chinese restaurants in your area. Maybe you are really
> > just unhappy with the preferences of the consumers around you.
>
>That's most of the story, but you are missing a key differenc
Peter Boettke wrote:
> >You sound like someone who likes Japanese food complaining that there
> >are too many Chinese restaurants in your area. Maybe you are really
> >just unhappy with the preferences of the consumers around you.
>
>This is exactly the response that George Stigler had to Milton
