Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Yes very interesting post indeed.
But in defense of Robert, it sometimes is hard to find the perfect examples of Moral Hazard where the "victims" do not suffer at least some degree. Banks that foreclose now get about 50% of the principle they lent out back.

Even if some climbers fall or die on the mountains, many amateur climbers carry cell phones and other communication devices to contact in case of emergency. So now days there is an increased chance of being rescued even in some remote locations.

Moral hazard is that the people that choose behavior that is risky do not suffer all the consequences of their actions. Thus these many amateur mountain climbers should have all suffered death for their stupidity.

Of course we live in a compassionate environment where even Larry Hagman got a liver...

Rutherfordian ------------------------------ RDRutherford

by Ronald Rutherford (rdrradio1 -at- msn -dot- com) on Tue Apr 15th, 2008 at 06:45:05 PM EST
[ Parent ]
But you ignore the point that many climbers took risks before there was as much rescue as there is now, also many took risks exploring for centuries where there was no chance of rescue. I don't think most people think - it'll be OK if there's a problem - I'll get rescued, they just don't think there will be a problem.

 The problem is with careless people just not thinking, especially young guys, rather than people relying on others to rescue them. Thus in one US area the problem is not so much with climbers, who tend to  assess the risks and climb within their limits, but with ignorant hikers who aren't aware there could be a problem - till weather changes suddenly, etc.:

Some worry that free soloists create extraordinary risks for rescuers, but the experience at Yosemite Valley, the navel of the rock-climbing world, suggests that it is the misguided hiker, not climbers, who are the problem.

"Climbers make up a very small portion of rescues, and even smaller proportion of our fatalities," Adrienne Freeman, a Yosemite spokeswoman, said in a telephone interview. "Contrary to public perception, climbers are very responsible for themselves."


Maybe it's because I'm a Londoner - that I moved to Nice.
by Ted Welch (tedwelch-at-mac-dot-com) on Thu Apr 17th, 2008 at 09:20:18 AM EST
[ Parent ]
Yes, I don't think that either myself or Robert discounts the superman feelings of young people but still think there is some fraction is that some (not all) have calculated that they will be rescued if they get into trouble-otherwise they would not take radios and cell phones with them.

And yes from I have heard, intermediate skiers are the ones most likely to break their bones. Experts know better, beginners are cautious thus those in between think they know but do not know their limitations.

Rutherfordian ------------------------------ RDRutherford

by Ronald Rutherford (rdrradio1 -at- msn -dot- com) on Thu Apr 17th, 2008 at 05:17:43 PM EST
[ Parent ]


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