Word: risk-benefit
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After reading Catastrophe, I spent several sleepless nights worrying about the 600 innocent souls who—in our hypothetical world of risk-benefit analysis—will be swallowed alive by an out-of-control strangelet sometime in the next decade. I was so furious that I started rounding up fellow socially-minded Harvardians to head to RHIC’s Upton, N.Y. home and protest this travesty. In a fearful fury, I decided to check with Harvard’s crack team of experimental high energy physicists to see whether Posner’s calculations are on-target...
According to Baird Professor of Science Gary J. Feldman, “the public is very poor at risk analysis, let alone risk-benefit analysis...
After reading Catastrophe, I spent several sleepless nights worrying about the 600 innocent souls who—in our hypothetical world of risk-benefit analysis—will be swallowed alive by an out-of-control strangelet sometime in the next decade. I was so furious that I started rounding up fellow socially-minded Harvardians to head to RHIC’s Upton, N.Y. home and protest this travesty. In a fearful fury, I decided to check with Harvard’s crack team of experimental high energy physicists to see whether Posner’s calculations are on-target...
According to Baird Professor of Science Gary J. Feldman, “the public is very poor at risk analysis, let alone risk-benefit analysis...
...benefit analysis is only useful if the risk is non-zero,” Feldman wrote in an e-mail. “But in the strangelet scenario, “the risk is sufficiently close to zero that risk-benefit analysis is not helpful...