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Title:Surviving the Titanic disaster: economic, natural and social determinants PDF Logo
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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