Risk and Precaution

Risk and Precaution

  • £9.99
  • Save £66

Alan Randall
Cambridge University Press, 2/28/2011
EAN 9780521766159, ISBN10: 052176615X

Hardcover, 250 pages, 25.4 x 17.9 x 1.7 cm
Language: English

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.

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

Advance praise: '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 and Senior Fellow Emeritus and President Emeritus, Resources for the Future