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Market Incentives for Safety

dc.contributor.authorViscusi, W. Kip
dc.date.accessioned2015-06-04T18:14:04Z
dc.date.available2015-06-04T18:14:04Z
dc.date.issued1985
dc.identifier.citation63 Harvard Business Review 133 (1985)en_US
dc.identifier.urihttp://hdl.handle.net/1803/7070
dc.descriptionarticle published in business reviewen_US
dc.description.abstractIn the heated atmosphere generated by inch-high headlines and multimillion-dollar liability suits, two important facts often get lost. First, society's awareness of what ensuring reasonably complete safety would cost rarely matches the intensity of its demands for such assurance. And second, the most powerful forces working to make products and workplaces safer are not the edicts of government but the dynamics of the market. True, there are situations in which the market cannot by itself create effective incentives for safety, but in the vast majority of cases it can-and does. Drawing on his extensive research into the regulation of risk, the author both describes the nature and extent of those incentives and offers guidelines for identifying the kinds of situation in which they are not likely to operate. For these instances, where federal regulation is essential, the author strongly recommends modes of government involvement that try to duplicate or extend the market mechanism.en_US
dc.format.extent1 PDF (8 pages)en_US
dc.format.mimetypeapplication/pdf
dc.language.isoen_USen_US
dc.publisherHarvard Business Reviewen_US
dc.subjectMarket incentivesen_US
dc.subjectProduct liabilityen_US
dc.subjectRisk regulationen_US
dc.subject.lcshProduct safety -- United Statesen_US
dc.subject.lcshProduct safety -- Law and legislation -- United Statesen_US
dc.subject.lcshProducts liability -- United Statesen_US
dc.subject.lcshIndustrial safety -- United Statesen_US
dc.subject.lcshIndustrial safety -- Law and legislation -- United Statesen_US
dc.subject.lcshSafety regulations -- United Statesen_US
dc.titleMarket Incentives for Safetyen_US
dc.typeArticleen_US


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