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Science 4 May 1990:
Vol. 248. no. 4955, pp. 559 - 564
DOI: 10.1126/science.2333509
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Articles

Science, Vol 248, Issue 4955, 559-564
Copyright © 1990 by American Association for the Advancement of Science

articles

Risk within reason

RJ Zeckhauser and WK Viscusi

Kennedy School of Government, Harvard University, Cambridge, MA 02138.

Advances in low-level risk detection threaten to engulf us with information. Regulators typically respond to each newly highlighted risk, whether painstakingly uncovered through scientific investigation or divulged with fanfare by the media, on an ad hoc basis. This response makes it hard to relate disparate risks to the overall risk level and impedes intelligent risk reduction, which must consider the costs and benefits involved. Efficient risk management requires decisions not only about what to regulate and how stringently, but also about the appropriate division of labor among the agents influencing risks. These agents include individuals, whose potential contributions too often are overlooked, corporations, and government.


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