Abstract
To improve the overall quality of life for all in society is a desirable high-level goal, but our capacity to do so is limited by available resources. Work creates wealth, but it also adds to, and creates, risk to life, health, and the environment. We take a good portion of that wealth and use it to reduce those risks. How big should that portion be, and how should it be distributed over the hundreds of risk-reducing options? We can answer this question by means of the quantified societal capacity to commit resources to risk reduction, which we derive from the economics of human welfare. The underlying principles and the methods are discussed in the first three chapters and the appendices. The remainder of the book illustrates application of the principles in risk management practice.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Ariely D (2008) Predictably irrational: the hidden forces that shape our decisions. Harper Collins, New Jersey City
Baum JW (1994) Value of public health and safety actions and radiation dose avoided. US Nuclear Regulatory Commission, NUREG/CR-6212
Breyer S (1993) Breaking the vicious circle: Toward effective risk regulation. Harvard University Press, Cambridge, MA
Cohen BL (1991) Catalog of risks extended and updates. Health Phys 61:317–335
Doll R, Peto R (1981) The causes of cancer. Oxford University Press, New York
Gardner D (2008) Risk: The Science and politics of fear. McClelland and Stewart, Toronto
Hammit JK, Treich N (2007) Statistical vs. identified lives in benefit cost analysis, J Risk Uncertain 35:45–66
Hicks JR (1939) The Foundation of welfare economics. Econ J 49 (196):696–712
ICRP International Commission on Radiological Protection (1989) Optimization and decisionmaking in radiological protection. Annals of the ICRP, ICRP Publication 55
Lentz A, Rackwitz R (2004) Loss of life modelling in risk acceptance criteria. Proc PSAM, ESREL 04, Berlin, June 14–18. Springer-Verlag, London, pp. 1924–1929
Lind NC, Nathwani JS, Siddall E (1992) Managing risks in the public interest. Institute for Risk Research, University of Waterloo, Waterloo
Martin JK, Iwandow C (1996) The Canadian Government perspective on cost-effective regulation. Treasury Board Secretariat, Regulatory Affairs Directorate, Ottawa
Nathwani JS, Narveson J (1995) Three principles for managing risk in the public interest. Int J Risk Anal 15(6):615–626
Nathwani JS, Lind NC, Pandey MD (1997) Affordable safety by choice: the life quality method. Institute for Risk Research, University of Waterloo, Waterloo
Pandey MD, Nathwani JS (2004) Life Quality Index for estimation of societal willingness to pay for safety. J Struct Saf 26:181–199
Pandey MD, Nathwani JS (2007) Foundational principles of welfare economics underlying the life quality index for efficient risk management. Int J Risk Assess Manag 7 (6/7):862–883
Pigou AC (1920) Economics of welfare. London, UK: MacMillan and Company
Tengs TO, Adams ME, Pliskin JS et al (1995) Five hundred life-saving interventions and their cost-effectiveness. Int J Risk Anal 15:369–390
UNDP (United Nations Development Program) (1990) The human development report. Oxford University Press, UK
van Houtven LG, Cropper ML (1993) When is a life too costly to save? The Evidence from Environmental Regulations, Paper CRM 93-02, Resources for the Future. Washington, DC
Viscusi KW(1990) Sources of inconsistency in societal responses to health risks. American Econ Review 80 (2):257–61
Viscusi WK (1992) Fatal trade offs: Public and private responsibilities for risk. Oxford University Press, New York
Viscusi WK (1993) The value of risks to life and health. J Econ Lit 31(4): 1912–1946 14
World Health Organization (2005) World Health Report 2005 – Make every mother and child count, WHO Geneva
World Health Organization (2008) World Health Report 2008 – Primary health care, more than ever, WHO Geneva
Wilkins R, Adams O, Brancker A (1989) Changes in mortality in urban Canada from 1971 to 1986, Health Rep 1(2):137–174
Wilkins R, Tjepkema M, Mustard C, Choinière R (2008) The Canadian census mortality follow-up study, 1991 through 2001. Health Rep 19(3)
Zeckhauser R, Sheppard D (1976) Where now for saving lives? Law Contemp Prob 40(4):5 15
Rights and permissions
Copyright information
© 2009 Springer-Verlag London Limited
About this chapter
Cite this chapter
(2009). The Societal Capacity to Commit Resources. In: Engineering Decisions for Life Quality. Springer Series in Reliability Engineering. Springer, London. https://doi.org/10.1007/978-1-84882-602-1_1
Download citation
DOI: https://doi.org/10.1007/978-1-84882-602-1_1
Publisher Name: Springer, London
Print ISBN: 978-1-84882-601-4
Online ISBN: 978-1-84882-602-1
eBook Packages: EngineeringEngineering (R0)