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Risk and Precaution

$23.00 ( ) USD

  • Date Published: February 2011
  • availability: This ISBN is for an eBook version which is distributed on our behalf by a third party.
  • format: Adobe eBook Reader
  • isbn: 9780511855818

$ 23.00 USD ( )
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About the Authors
  • The precautionary principle has been labeled simplistic and the rational approach to decision-making under risk was modeled on well-specified games of chance. How then are we to manage the risks, uncertainties, and 'unknown unknowns' of the real world? In this book, Alan Randall unravels the key controversies surrounding the precautionary principle and develops a new framework that can be taken seriously in policy and management circles. Respecting the complexity of the real world, he defines a justifiable role for the precautionary principle in a risk management framework that integrates precaution with elements of the standard risk management model. This is explained using examples from medicine, pharmacy, synthetic chemicals, nanotechnology, the environment and natural resources conservation. This carefully reasoned but highly accessible book will appeal to readers from a broad range of disciplines, including environmental policy, risk management and cost-benefit analysis.

    • Presents a new framework for risk management that integrates the precautionary and rational decision-making approaches
    • Explains and responds to fundamental criticisms of the precautionary principle in an accessible style that makes minimal use of mathematics
    • Provides illustrative and case examples spanning a wide range of fields, including new drugs and medical treatments, pesticides and synthetic chemicals, nanotechnology and genetically modified organisms
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    Reviews & endorsements

    “This book is indeed an extraordinary accomplishment. It is a sophisticated, in-depth treatment of risk management in all of its complexities and complications. Numerous intellectual disciplines and subject matter fields are integrated to examine risk management in public policy. Randall’s quest is to explore whether there is need in public policy for precautions, or safety margins, above and beyond that provided by ordinary risk management. The book demonstrates that for many situations ordinary risk management serves society well. Yet there are damaging events of infrequent occurrence but of major consequence, where ordinary risk management fails. His solution is to advance what he labels ‘integrated risk management’ which includes precautions not provided by ordinary risk management. His distinction between ‘principles’ and ‘rules’ in public policy formation alone makes reading the book worthwhile.” - Emery N. Castle, Professor Emeritus, Oregon State University, Senior Fellow Emeritus and President Emeritus, Resources for the Future

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    Product details

    • Date Published: February 2011
    • format: Adobe eBook Reader
    • isbn: 9780511855818
    • contains: 12 b/w illus. 6 tables
    • availability: This ISBN is for an eBook version which is distributed on our behalf by a third party.
  • Table of Contents

    List of figures
    List of boxes
    Part I. The Precautionary Principle – Why So Much Fuss about Such a Simple Idea?:
    1. Precaution as common sense: 'look before you leap'
    2. Commonsense precaution or paralysis of fear?
    Part II. Harm and Chance – Managing Risk:
    3. Harm, risk, and threat
    4. ORM – risk management as we know it
    5. Problems with ordinary risk management
    Part III. Defining and Justifying a Coherent Precautionary Principle:
    6. A defensible precautionary principle must withstand these challenges
    7. Toward a PP framework – evidence, threat, and remedy
    8. Threat and evidence
    9. Remedy
    10. Precaution for utilitarians?
    11. A robust and defensible precautionary principle
    Part IV. Precaution in Action:
    12. Precaution: from principle to policy
    13. Integrated risk management
    Part V. Conclusion:
    14. A role for precaution in an integrated risk management framework

  • Instructors have used or reviewed this title for the following courses

    • Organizational Behavior
    • Organizational Strategy
    • The Earth
    • Water Resource Planning and Managemen
  • Author

    Alan Randall, University of Sydney
    Alan Randall is Professor of Agricultural and Resource Economics at the University of Sydney, having served previously at Ohio State University for 25 years, 12 of them as department chair. He specializes in environmental economics and policy, with particular interests in environmental risk; biodiversity, habitat and environmental sustainability; environmental regulation, monitoring, and enforcement; and the benefits and costs of environmental projects and programs. His writings include Making the Environment Count: Selected Essays (Edward Elgar, 1999), Resource Economics: An Economic Approach to Natural Resource and Environmental Policy (Wiley, 1981, 1987; and Elgar, 2010 with John C. Bergstrom), and numerous journal articles. He is active in professional associations and on editorial boards, and has served on the National Research Council standing committee on human dimensions of global change and several NRC panels dealing with environmental policy issues. Professor Randall is a Fellow of three scholarly societies (the American Agricultural Economics Association, the Australian Agricultural and Resource Economics Society, and the Association of Environmental and Resource Economists), has received Ohio State University Awards for Distinguished Scholarship and Distinguished Faculty Service, and holds honorary doctorates from the University of Sydney and the Norwegian University of Environment and Life Sciences.

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