Economics of maritime disasters : essays on the Titanic and Lusitania
Savage, David A. (2009) Economics of maritime disasters : essays on the Titanic and Lusitania. Masters by Research thesis, Queensland University of Technology.
This work seeks to fill some of the gap existing in the economics and behavioural economics literature pertaining to the decision making process of individuals under extreme environmental situations (life and death events). These essays specifically examine the sinking’s of the R.M.S. Titanic, on 14th April of 1912, and the R.M.S. Lusitania, on 7th May 1915, using econometric (multivariate) analysis techniques. The results show that even under extreme life and death conditions, social norms matter and are reflected in the survival probabilities of individuals onboard the Titanic. However, results from the comparative analysis of the Titanic and Lusitania show that social norms take time to organise and be effective. In the presence of such time constraints, the traditional “homo economicus” model of individual behaviour becomes evident as a survival of the fittest competition.
Impact and interest:
Citation counts are sourced monthly from and citation databases.
These databases contain citations from different subsets of available publications and different time periods and thus the citation count from each is usually different. Some works are not in either database and no count is displayed. Scopus includes citations from articles published in 1996 onwards, and Web of Science® generally from 1980 onwards.
Citations counts from theindexing service can be viewed at the linked Google Scholar™ search.
Full-text downloads displays the total number of times this work’s files (e.g., a PDF) have been downloaded from QUT ePrints as well as the number of downloads in the previous 365 days. The count includes downloads for all files if a work has more than one.
|Item Type:||QUT Thesis (Masters by Research)|
|Keywords:||altruism and self-interest, decision under pressure, excess demand, disasters, life and death, Lusitania, quasi-natural experiment, social norms, survival of the fittest, Titanic, tragic events, women and children first|
|Divisions:||Current > Research Centres > Office of Education Research
Current > QUT Faculties and Divisions > Faculty of Education
|Institution:||Queensland University of Technology|
|Deposited On:||20 Sep 2010 22:19|
|Last Modified:||09 Feb 2011 13:52|
Repository Staff Only: item control page