ECON 3317- Midterm Exam Guide - Comprehensive Notes for the exam ( 47 pages long!)

74 views47 pages
12 Oct 2017
Department
Course

Document Summary

Lost utility from extra risk, extra utility from consumption: tradeoff- they can increase their wage by taking on more risk. Employer view: how much are they willing to reduce risk or allow it given they have to pay a certain wage to do it. Firm a not very costly to reduce risk- don"t need to cut wages by a lot- cool with lower risk because not as expensive to make it safer. Value of regulating risk: asbestos- used in us industry as insulation- thousands of ships in. Lecture 16: economics of opportunity; circumstances and choice. Two different views on equality of opportunity: generally, as a society, we think of equality of opportunity in two ways a. i. The level the playing field definition: during people"s formative years we should provide resources so that when it comes time to compete for positions (college jobs) all people have the attributes they need a. i. 1.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers

Related Documents