EclectEcon

Economics and the mid-life crisis have much in common: Both dwell on foregone opportunities

C'est la vie; c'est la guerre; c'est la pomme de terre . . . . . . . . . . . . . email: jpalmer at uwo dot ca


. . . . . . . . . . .Richard Posner should be awarded the next Nobel Prize in Economics . . . . . . . . . . . .

Friday, December 31, 2004

Tsunami Warnings and Economic Efficiency

In hindsight, I can't imagine that the lack of a tsunami warning system for the Indian Ocean would pass the Hand Test (also called "the calculus of negligence"). If it wouldn't, then who is the least cost bearer of this risk? And if bureacrats with some gubmnts wouldn't foot the bill for the system, who, then, becomes the least-cost insurer?

posted by EclectEcon @ 12/31/2004 01:26:00 a.m.  

 
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