Wealth equivalents, risk aversion and the marginal benefit from increased safety
By: [by] Michael K. Block and Robert C. Lind
Contributors: Lind, Robert C.; Naval Postgraduate School (U.S.)
Publisher: Naval Postgraduate School
Published: 1974
Place of publication: Monterey, Calif
Language: eng
Number of pages: 16
Subjects: Industrial safety; Mathematical models; Wealth; Risk
Description: In the paper it is shown that if a wealth equivalent to an undesirable event exists, then the assumption of risk aversion has strong and interesting implications for safety decisions. In addition, the authors set forth sufficient conditions for the existence of a wealth equivalent to a nonmonetary and undesirable event. (Author)
Notes: Title from cover.

"Prepared for: Office of Naval Research, Arlington, Virginia 22217"--Cover.

"May 1974"--Cover.

"NPS-55XB74051"--Cover.

Author(s) subject terms: Wealth equivalents, safety decisions, risk aversion.

Includes bibliographical references (p. 16).

"Approved for public release; distribution unlimited"--Cover.

Technical report; 1974.