Trading cost against safety: The structure of people's beliefs

✍ Scribed by P. T. Allen

• Publisher: American Institute of Chemical Engineers
• Year: 1997
• Tongue: English
• Weight: 603 KB
• Volume: 16
• Category: Article
• ISSN: 1066-8527
• DOI: 10.1002/prs.680160210

✦ Synopsis

Abstract

The paper addresses issues arising from a consideration of the views people express about the legitimacy of, and appropriate levels at which, cost may be traded‐off against risk, in the context of investment in the safety of chemical industry plant. The discussion is based on the findings from a number of studies, in the UK and in Belgium, which included trade‐off judgements by the public and members of various interest groups. Some general features of responses are noted and their implications for policy are discussed.