Rational Risk Policy: The 1996 Arne Ryde Memorial Lectures

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9780198293637: Rational Risk Policy: The 1996 Arne Ryde Memorial Lectures
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This book provides a comprehensive and accessible synthesis of Viscusi's 1996 Arne Ryde Memorial lectures on risk policy. In this volume, Viscusi explores the various forms of irrationality exemplified in individual risk behavior and the role government policy has played in institutionalizing these biases. He examines the implications for government policy of consumers and workers' risk beliefs and behavioral responses to risk. In addition to a critique of current risk analysis practices, he suggests strategies for rational risk management, including hazard warnings efforts, direct regulation, and liability as alternative modes of intervention.

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W. Kip Viscusi is at Harvard Law School.

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`A particularly interesting part of this book is the chapter on risk analysis and regulatory policy ... This book is an important contribution to the literature dealing with risk policy. The author clearly lays out the various failures that occur in individual risk assessment and risk
decisions ... The observations in this book add greatly to the goal of achieving a rational risk policy.'
William Feldhaus, The Journal of Risk and Insurance

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