The Price of Accidents
Economist Sam Peltzman discusses the concept of risk compensation and its impact on accident rates. He explains how a decrease in the price of accidents can lead to people taking more risks, resulting in a disproportionate share of those risks being borne by non-occupants. Peltzman's findings challenge the prevailing view of the safety community and highlight the complex relationship between regulations, human behavior, and accident prevention.In this clip
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Sam Peltzman on Regulation
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