W. Kip Viscusi
University Distinguished Professor of Law, Economics, and Management
Co-Director, Ph.D. Program in Law and Economics
W. Kip Viscusi is Vanderbilt's first University Distinguished Professor, with tenured appointments in the Department of Economics and the Owen Graduate School of Management as well as in the Law School. Before joining the Vanderbilt faculty, Professor Viscusi was the Cogan Professor of Law and Economics and Director of the Program on Empirical Studies at Harvard Law School. He has also been the Allen Professor of Economics at Duke University and Professor of Economics at Northwestern University.
Professor Viscusi is the award-winning author of more than 20 books and over 330 articles, most of which deal with different aspects of health and safety risks. His pathbreaking research has addressed a wide range of individual and societal responses to risk and uncertainty, including risky behaviors, government regulation, and tort liability. He is widely regarded as one of the world's leading authorities on benefit-cost analysis. Professor Viscusi's estimates of the value of risks to life and health are currently used throughout the Federal government. He has served as a consultant to the U.S. Office of Management and Budget, the Environmental Protection Agency, the Occupational Safety and Health Administration, the Federal Aviation Administration, and the U.S. Department of Justice on issues pertaining to the valuation of life and health. In the Carter administration, he was Deputy Director of the Council of Wage and Price Stability, which was responsible for White House oversight over all new federal regulations. He has served on different panels of the Science Advisory Board of the U.S. Environmental Protection Agency for over a decade. Professor Viscusi is the current President of the Society for Benefit-Cost Analysis. He served as Vice-President of the SBCA in 2014.
Professor Viscusi is the founding editor of the Journal of Risk and Uncertainty, which he has edited since 1988. His textbook with Harrington and Vernon, Economics of Regulation and Antitrust, has retained its monopoly position in that field.
Regulation of health, safety, and environmental risks; tort reform; risk and insurance; law and economics
- Economics of Regulation and Antitrust (Lexington: D.C. Heath & Co., 1992; Cambridge: MIT Press: 2nd edition 1995, 3rd edition 2000 (translated into Chinese & Ukrainian), 4th edition 2005) (with Joseph E. Harrington, Jr. and John Vernon)
- Smoke-Filled Rooms: A Postmortem on the Tobacco Deal (Chicago: University of Chicago Press, 2002)
- Punitive Damages: How Juries Decide, with Cass R. Sunstein, Reid Hastie, John Payne and David Schkade (Chicago: University of Chicago Press, 2002). In hardcover and paperback.
- Calculating Risks?: The Spatial and Political Dimensions of Hazardous Waste Policy (Cambridge: MIT Press, 1999), with James T. Hamilton.
- Rational Risk Policy: The 1996 Arne Ryde Memorial Lectures (Oxford: Clarendon Press-Oxford University Press, 1998). Winner of the Kulp Memorial Award, Best Book of 2000, American Risk and Insurance Association.
- Fatal Tradeoffs: Public and Private Responsibilities for Risk (New York: Oxford University Press, 1992) (paperback edition, 1995). Winner of the Kulp Memorial Award, Best Book of 1994, American Risk and Insurance Association.
- Smoking: Making the Risky Decision (New York: Oxford University Press, 1992).
- Reforming Products Liability (Cambridge: Harvard University Press, 1991). Winner of the Kulp Memorial Award, Best Book of 1993, American Risk and Insurance Association.
- Compensation Mechanisms for Job Risks: Wages, Workers' Compensation and Product Liability (Princeton University Press, 1990). Winner of Kulp Memorial Award, Best Book of 1992, American Risk and Insurance Association. With Michael J. Moore
- Employment Hazards: An Investigation of Market Performance, Harvard Economic Studies No. 148 (Cambridge: Harvard University Press, 1979). Winner of the David Wells Prize for outstanding economics dissertation, Harvard University.