A Test of the Expected Utility Model: Evidence from Earthquake Risks
检验了预期效用模型在低概率高损失自然灾害中的适用性，并证明加州1974年法律通过创造安全住房市场改善了信息环境。
The purposes of this paper are twofold. The first is to demonstrate that the expected utility hypothesis is a reasonable description of behavior for consumers who face a low-probability, high-loss natural hazard event, given that they have adequate information. The second is to demonstrate that in California information non earthquake hazards was generated by a 1974 state law that created a market for safe housing that previously did not exist.