About the Speaker:

Professor Knetsch is Emeritus Professor of Economics and Resource and Environmental Management at Simon Fraser University. Professor Knetsch is an eminent economist whose works have appeared in premier internationally referred journals such as the American Economic Review, Journal of Political Economy, Quarterly Journal of Economics, Journal of Economic Perspectives, Journal of Economic Behaviour and Organisation, and Journal of Environmental Economics and Management. Professor Knetsch’s work on Behavioural Economics is of particular significance. Behavioural Economics is fast becoming an important subject, and Professor Knetsch has contributed extensively in this area including numerous co-authored papers with Professor Daniel Kahneman (the Nobel Laureate in Economics, 2002). He has also published 2 books, namely, Property Rights and Compensation (Butterworths) and the Economics of Outdoor Recreation (with Marion Clawson, John Hopkins Press). He is among the most heavily cited economists in the world, and listed among the 70 most often cited economists for the 1980-2000 period.

Abstract:

Extensions of the usual measures of welfare change, but with context (reference) dependence, will be discussed along with suggestions for valuing statistical lives and changes in risks. Is reducing the risk of a bad outcome a gain or a reduction of a loss? -- and why it might matter.

Reservation:

Admission is free.  Please reply to Christina, e-mail: achristina@ntu.edu.sg or Tel: 6790-5689 to confirm your attendance.