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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/18705
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| Title: | | Calculating tragedy : assessing the costs of terrorism  |
| Authors: | | Frey, Bruno S. Luechinger, Simon Stutzer, Alois |
| Issue Date: | | 2004 |
| Series/Report no.: | | CESifo working papers 1341 |
| Abstract: | | The trends and consequences of terrorist activities are often captured by counting the number of incidents and casualties. More recently, the effects of terrorist acts on various aspects of the economy have been analyzed. These costs are surveyed and put in perspective. As economic consequences are only a part of the overall costs of terrorism, possible approaches for estimating the utility losses of the people affected are discussed. Results using the life satisfaction approach, in which individual utility is approximated by self-reported subjective well-being, suggest that people?s utility losses may far exceed the purely economic consequences. |
| Subjects: | | terrorism subjective well-being life satisfaction utility loss |
| JEL: | | I31 H56 D74 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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