The realities of risk-cost-benefit analysis

Author:

Fischhoff Baruch1

Affiliation:

1. Department of Engineering and Public Policy, Department of Social and Decision Sciences, Carnegie Mellon University, Pittsburgh, PA 15213, USA.

Abstract

Setting policy, knowing risks Policy-makers often commission formal analyses to estimate the costs, risks, and benefits of proposed projects or policies. Applications range from estimating the risks of commercial nuclear power, to setting priorities among environmental risks, to comparing technologies for generating electricity, to weighing the benefits and risks of prescription drugs. In the United States, analyses are required for all major federal regulations. Fischhoff reviews how such analyses are limited by the scientific and ethical judgments inherent in the process and require collaboration between those who generate the analyses and those who want to use them. Science , this issue p. 10.1126/science.aaa6516

Funder

National Science Foundation

Publisher

American Association for the Advancement of Science (AAAS)

Subject

Multidisciplinary

Reference120 articles.

1. National Research Council Potential Risks and Benefits of Gain-of-Function Research (Washington DC: National Academy Press 2015).

2. H. A. Simon Models of Man: Social and Rational (Wiley New York 1957).

3. B. Fischhoff J. Kadvany Risk: A Very Short Introduction (Oxford Univ. Press Oxford 2011).

4. S. Jasanoff Science and Public Reason (Routledge New York 2012).

5. W. W. Lowrance Of Acceptable Risk ( Kaufmann Los Altos CA 1976).

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