This book provides a comprehensive and accessible synthesis of Viscusi's 1996 Arne Ryde Memorial lectures on risk policy. In this volume, Viscusi explores the various forms of irrationality exemplified in individual risk behavior and the role government policy has played in institutionalizing these biases. He examines the implications for government policy of consumers and workers' risk beliefs and behavioral responses to risk. In addition to a critique of current risk analysis practices, he suggests strategies for rational risk management, including hazard warnings efforts, direct...

In the field of economic analysis, computability in the formation of economic hypotheses is seen as the way forward. In this book, Professor Velupillai implements a theoretical research program along these lines. Choice theory, learning rational expectations equlibria, the persistence of adaptive behavior, arithmetical games, aspects of production theory, and economic dynamics are given recursion theoretic (i.e. computable) interpretations.