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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/10419/26596
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| Title: | | Surviving the Titanic disaster: economic, natural and social determinants  |
| Authors: | | Frey, Bruno S. Savage, David A. Torgler, Benno |
| 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 survival quasi-natural experiment altruism |
| JEL: | | D63 D64 D71 D81 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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