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Decision Making About Biotechnology: The Costs of Learning from Error

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The Social Response to Environmental Risk

Part of the book series: Recent Economic Thought Series ((RETH,volume 24))

Abstract

One of the main obstacles to the use of science and engineering for human betterment is that new technological endeavors quickly develop economic, political, and intellectual momentum. As a result, these technologies then resist improvement, even when serious environmental or social impacts become apparent. The time to make mid-course corrections, therefore, is early in the life cycle before momentum becomes irresistible (Winner, 1977, 1986; Morone and Woodhouse, 1989). Among the most significant new technical endeavors for the foreseeable future are those in the field of molecular genetics —popularly referred to as biotechnology. This chapter attempts to assess whether early commercialization of this technology is proceeding sensibly or whether changes may be desirable. The analysis relies on a framework developed by decision theorists for evaluating the regulation of toxic chemicals, nuclear power, and other environmentally hazardous technologies (Collingridge, 1980, 1983; Morone and Woodhouse, 1986).

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Daniel W. Bromley Kathleen Segerson

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© 1992 Springer Science+Business Media New York

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Woodhouse, E.J., Hamlett, P.W. (1992). Decision Making About Biotechnology: The Costs of Learning from Error. In: Bromley, D.W., Segerson, K. (eds) The Social Response to Environmental Risk. Recent Economic Thought Series, vol 24. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-2954-1_6

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  • DOI: https://doi.org/10.1007/978-94-011-2954-1_6

  • Publisher Name: Springer, Dordrecht

  • Print ISBN: 978-94-010-5311-2

  • Online ISBN: 978-94-011-2954-1

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