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Efficient Regulation of Environmental Health Risks

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  • Erik Lichtenberg
  • David Zilberman

Abstract

This paper introduces a decision framework for regulating environmental health risks which incorporates the characteristic uncertainty about the dissemination and toxicological impacts of environmental contaminants and the behavioral restrictions commonly encountered. Analysis indicates that increases in uncontrollable uncertainty will increase emphasis on average performance, that more potent or less controllable risks will be regulated more stringently and that increasing aversion to uncertainty may result in poorer average performance. The paper also develops an alternative measure for valuing risk of loss of life taking into account uncertainty about health risk generation processes.

Suggested Citation

  • Erik Lichtenberg & David Zilberman, 1988. "Efficient Regulation of Environmental Health Risks," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 103(1), pages 167-178.
    • Handle: RePEc:oup:qjecon:v:103:y:1988:i:1:p:167-178.
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    File URL: http://hdl.handle.net/10.2307/1882647
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    References listed on IDEAS

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    1. Beavis, Brian & Walker, Martin, 1983. "Achieving environmental standards with stochastic discharges," Journal of Environmental Economics and Management, Elsevier, vol. 10(2), pages 103-111, June.
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