Regulation of health, safety, and environmental risk
By: W. Kip Viscusi.
Contributors: Viscusi, W Kip.; John M. Olin Center for Law, Economics, and Business.
Series: Discussion paper -- no. 544; Discussion paper (John M. Olin Center for Law, Economics, and Business : Online) -- no. 544.
Publisher: Harvard Law School
Published: 2006
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "This paper provides a systematic review of the economic analysis of health, safety, and environmental regulations.  Although the market failures that give rise to a rationale for intervention are well known, not all market failures imply that market risk levels are too great.  Hazard warnings policies often can address informational failures.  Some market failures may be exacerbated by government policies, particularly those embodying conservative risk assessment practices.  Labor market estimates of the value of statistical life provide a useful reference point for the efficient risk tradeoffs for government regulation.  Guided by restrictive legislative mandates, regulatory policies often strike a quite different balance with an inordinately high cost per life saved.  The risk-risk analysis methodology enables analysts to assess the net safety implications of policy efforts.  Inadequate regulatory enforcement and behavioral responses to regulation may limit their effectiveness, while rising societal wealth will continue to generate greater levels of health and safety"--John M. Olin Center for Law, Economics, and Business web site.
Notes: Title from PDF file as viewed on 3/19/2007.

Includes bibliographical references.

Also available in print.

System requirements: Adobe Acrobat Reader.

Mode of access: World Wide Web.