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Union Carbide's Bhopal Incident: A Retrospective

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  • Fischer, Michael J
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    Abstract

    This article examines the actual events of the Bhopal gas disaster as a prelude to considering the social treatment of catastrophic risks of this variety. In the context of the conference, Bhopal is held out to be symbolic of man-made catastrophes having sudden impact and is therefore the contrasting episode to an examination of the symbolic episode for gradual man-made catastrophes, asbestos liability. Bhopal is then connected to the circumstances which created a shortage of commercial catastrophe liability insurance in the 1980s. Its influence on the restructuring of the market is then discussed. A commentary on the buying habits of large industrial corporations is also included. Copyright 1996 by Kluwer Academic Publishers

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    Bibliographic Info

    Article provided by Springer in its journal Journal of Risk and Uncertainty.

    Volume (Year): 12 (1996)
    Issue (Month): 2-3 (May)
    Pages: 257-69

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    Handle: RePEc:kap:jrisku:v:12:y:1996:i:2-3:p:257-69

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    Web page: http://www.springerlink.com/link.asp?id=100299

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    Cited by:
    1. Thomas J. Miceli & Kathleen Segerson, 2001. "Do Exposure Suits Produce a 'Race to File'? An Economic Analysis of a Tort for Risk," Working papers 2002-42, University of Connecticut, Department of Economics, revised Jun 2004.
    2. Thomas J. Miceli & Kathleen Segerson, 2004. "A Tort for Risk and Endogenous Bankruptcy," Working papers 2004-24, University of Connecticut, Department of Economics.
    3. Mason, Robin, 1997. "Dividends, Safety and Liquidation when Liabilities are Long-term and Stochastic," Cambridge Working Papers in Economics 9731, Faculty of Economics, University of Cambridge.

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