Abstract
Low-probability/high-consequence (LP/HC) risks present special policy problems. Policies driven by the consideration of low risk probabilities will, on the whole, lead to low investment strategies to prevent a hazard from being realized or to mitigate the hazard’s consequences. By comparison, policies driven by the consideration of high consequences, despite low probabilities, will lead to high levels of public investment. To better understand such policy conflicts it would be valuable if research could help determine whether people (1) are primarily and systematically sensitive to probabilities, or (2) are mainly affected by images of consequences.
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© 1984 Springer Science+Business Media New York
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Nehnevajsa, J. (1984). Low-Probability/High-Consequence Risks: Issues in Credibility and Acceptance. In: Waller, R.A., Covello, V.T. (eds) Low-Probability High-Consequence Risk Analysis. Advances in Risk Analysis, vol 2. Springer, Boston, MA. https://doi.org/10.1007/978-1-4757-1818-8_30
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DOI: https://doi.org/10.1007/978-1-4757-1818-8_30
Publisher Name: Springer, Boston, MA
Print ISBN: 978-1-4757-1820-1
Online ISBN: 978-1-4757-1818-8
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