Sam Peltzman
Definition
Sam Peltzman is an American economist and the Ralph and Dorothy Keller Distinguished Service Professor Emeritus of Economics at the University of Chicago Booth School of Business.
He is renowned for his pioneering research on government regulation and industrial organization, particularly his 1975 study 'The Effects of Automobile Safety Regulation,' which introduced the concept of risk compensation (also known as the Peltzman effect), arguing that safety measures like seatbelts lead drivers to behave more recklessly, offsetting potential benefits.
Peltzman's work often critiques the unintended consequences of public policy interventions at the intersection of the public and private sectors.
Examples
After reading Sam Peltzman's paper, my friend buckled up and immediately started weaving through traffic like a pro racer.
Sam Peltzman would nod knowingly at cyclists donning helmets only to bomb down hills at double speed.
In our econ debate, invoking Sam Peltzman shut down the pro-regulation argument faster than a risky driver spotting a cop.
Thanks to Sam Peltzman's offset hypothesis, I now blame my speeding ticket on that fancy new car safety tech.
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