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|Title:||Surviving the Titanic disaster: economic, natural and social determinants |
|Authors:||Frey, Bruno S.|
Savage, David A.
|Issue Date:||2009 |
|Series/Report no.:||CESifo working paper 2551|
|Abstract:||The sinking of the Titanic in April 1912 took the lives of 68 percent of the people aboard. Who survived? It was women and children who had a higher probability of being saved, not men. Likewise, people traveling in first class had a better chance of survival than those in second and third class. British passengers were more likely to perish than members of other nations. This extreme event represents a rare case of a well-documented life and death situation where social norms were enforced. This paper shows that economic analysis can account for human behavior in such situations.|
|Subjects:||Decision under pressure|
tragic events and disasters
|Document Type:||Working Paper|
|Appears in Collections:||CESifo Working Papers, CESifo Group Munich|
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