Catastrophic Risk: or the Economics of Being Scared

David Collard

Chapter 6 in Economics, Growth and Sustainable Environments, 1988, pp 67-83 from Palgrave Macmillan

Abstract: Abstract A catastrophic risk exists when there is a chance (albeit a small chance) of a project going very badly wrong, with extremely severe human and environmental consequences. Should such projects be undertaken? The issue is related to those which Richard Lecomber explored in his Economic Growth Versus the Environment (1975). The empirical analogues of my discussion here are nuclear power stations and certain types of chemical plant.

Keywords: Nuclear Power Station; Fault Tree; Fault Tree Analysis; Catastrophic Risk; Subjective Expect Utility (search for similar items in EconPapers)
Date: 1988
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DOI: 10.1007/978-1-349-19014-0_6

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