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Rational Risk PolicyThe 1996 Arne Ryde Memorial Lectures$
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W. Kip Viscusi

Print publication date: 1998

Print ISBN-13: 9780198293637

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198293631.001.0001

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Toward a Rational Basis for Regulation

Toward a Rational Basis for Regulation

Chapter:
(p.126) 8 Toward a Rational Basis for Regulation
Source:
Rational Risk Policy
Author(s):

W. Kip Viscusi (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/0198293631.003.0008

Various forms of irrationality often provide the rationale for intervention to address market failures. However, in a democratic society, these forms of irrationality often provide the impetus for government policy. The policy task is to develop risk regulation policies that would emerge if the public responded rationally to risk.

Keywords:   democracy, intervention, irrationality, market failure, policy, risk regulation

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