SelectedWorks - W. Kip Viscusi

Selected Works of W. Kip Viscusi

University Distinguished Professor of Law, Economics, and Management Co-Director, Ph.D. Program in Law and Economics

Works
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About W. Kip Viscusi

Present	Faculty Member, Vanderbilt University Law School
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Law and Law and Economics

regulation of health, safety, and enviromental risks, law and economics, tort liability, and risk and uncertainty

	A.B., M.P.P., A.M., Ph.D., Harvard University
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(615) 343-7715 (voice)

(615) 322-5953 (fax)

Room 280 (office)

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Bringing Predictability to the Chaos of Punitive Damages

Arizona State Law Journal (2022)

W. Kip Viscusi and Benjamin J. McMichael

Punitive damages remain unique in the American legal system. Awarded in the civil context with none of the protections offered ...

The Hierarchy and Performance of State Recycling and Deposit Laws

Vermont Journal of Environmental Law (2022)

W. Kip Viscusi and Caroline Cecot

States can foster recycling of waste materials through a variety of policies. The majority of the states have recycling laws ...

The Ideological Divide on Gun Regulation

Regulation (2022)

This article examines survey results on how ideology and vulnerability affect attitudes toward gun regulation. It finds that ideology is ...

A Regulatory Policy Strategy for Protecting Immigrant Workers

Seton Hall Law Review (2021)

W. Kip Viscusi and N. Marquiss

Immigration has become a focal point of many political campaigns, most notably that of President Trump in 2016 and again ...

Efficient Ethical Principles for Making Fatal Choices

Notre Dame Law Review (2021)

Resource allocations of all kinds inevitably encounter financial constraints, making it infeasible to make financially unbounded commitments. Such resource constraints ...

The Specific Consumer Expectations Test for Product Defects

Indiana Law Journal (2020)

W. Kip Viscusi and Clayton J. Masterman

The consumer expectations test in products liability law holds firms liable for producing goods that are more dangerous than the ...

"Sorry" Is Never Enough: How State Apology Laws Fail to ...

Stanford Law Review (2019)

W. Kip Viscusi, Benjamin J. McMichael and R. Lawrence Van Horn

Based on case studies indicating that apologies from physicians to patients can promote healing, understanding, and dispute resolution, 38 states ...

Taming Blockbuster Punitive Damages Awards

University of Illinois Law Review (2019)

W. Kip Viscusi and Benjamin J. McMichael

Blockbuster punitive damages awards, i.e., those awards exceeding $100 million, attract attention based on their sheer size. While there have ...

Regulating Ambiguous Risks: The Less than Rational Regulation of Pharmaceuticals

Journal of Legal Studies (2015)

W Kip Viscusi and Richard J. Zeckhauser

The US Food and Drug Administration (FDA) balances risks and benefits before approving pharmaceuticals. But powerful behavioral biases that lead ...

Producer and Consumer Responses to Green Housing Labels

Economic Inquiry (2015)

Sharon Shewmake and W. Kip Viscusi

We find “green” labels increase residential property values by an average of 5%. This premium varies by label stringency and ...

Assessing the Insurance Role of Tort Liability After Calabresi

Law and Contemporary Problems (2014)

Joni Hersch and W. Kip Viscusi

The Relative Merits of Cost-Benefit Analysis & Well-Being Analysis

Duke Law Journal Administrative Law Symposium (2013)

Daniel S. Bowling, Jennifer Nou, Lisa A. Robinson, W. Kip Viscusi, et al.

Duke Law Journal presents: 43rd Annual Administrative Law Symposium: A Happiness Approach to Cost-Benefit Analysis which focuses on the role ...

The Benefits of Mortality Risk Reduction: Happiness Surveys vs. The ...

Duke Law Journal (2013)

A principal component of many benefit-cost analyses (BCAs) of health, safety, and environmental regulations is the valuation of the fatality ...

An Investigation of the Rationality of Consumer Valuations of Multiple ...

The RAND Journal of Economics (2012)

W. Kip Viscusi, Wesley A. Magat and Joel Huber

After developing a conceptual analysis of consumer valuation of multiple risks, we explore both economic and cognitive hypotheses regarding individual ...

Risky Investment Decisions: How Are Individuals Influenced by Their Groups?

Journal of Risk and Uncertainty (2011)

W. Kip Viscusi, Owen R. Phillips and Stephan Kroll

We investigate the effect of group versus individual decision-making in the context of risky investment decisions in which all subjects ...

Survey Mode Effects on Valuation of Environmental Goods

International Journal of Environmental Research and Public Health (2011)

W. Kip Viscusi, Jason Bell and Joel Huber

This article evaluates the effect of the choice of survey recruitment mode on the value of water quality in lakes, ...

The Value of a Statistical Life: Evidence from Panel Data

Center for Policy Research (2010)

Thomas J. Kniesner, W. Kip Viscusi and Christopher Woock

Our research addresses fundamental long-standing concerns in the compensating wage differentials literature and its public policy implications: the econometric properties ...

Saving Lives Through Punitive Damages

Southern California Law Review (2010)

W. Kip Viscusi and Joni Hersch

This Article proposes that the value of statistical life ("VSL ") be used to set the total damages amount needed ...

The Heterogeneity of the Value of Statistical Life: Introduction and ...

Journal of Risk and Uncertainty (2010)

The refinement in worker fatality risk data used in hedonic wage studies and evidence from new stated preference studies have ...

The Effects of Tort Reform on Medical Malpractice Insurers' Ultimate ...

The Journal of Risk and Insurance (2009)

Patricia Born, W. Kip Viscusi and Tom Baker

Whereas the literature evaluating the effect of tort reforms has focused on the impact of reforms on insurers' reported incurred ...

Policy Relevant Heterogeneity in the Value of Statistical Life: New ...

Center for Policy Research (2009)

Thomas J. Kniesner and W. Kip Viscusi

We examine differences in the value of statistical life (VSL) across potential wage levels in panel data using quantile regressions ...

The Changing Landscape of Blockbuster Punitive Damages Awards

American Law and Economics Review (2009)

Adjusting the Value of a Statistical Life for Age and ...

The Review of Economics and Statistics (2008)

W. Kip Viscusi and Joseph E. Aldy

To resolve the theoretical ambiguity in the effect of age on the value of statistical life (VSL), this article uses ...

An Empirical Assessment of Early Offer Reform for Medical Malpractice

Journal of Legal Studies (2007)

Joni Hersch, Jeffrey O'Connell and W. Kip Viscusi

Rational Discounting for Regulatory Analysis

University of Chicago Law Review (2007)

This Article examines the economic basis for what is termed "rational discounting," which entails full recognition of policy effects over ...