Better business regulation in a risk society by Alberto Alemanno, Frank den Butter, André Nijsen, Jacopo

By Alberto Alemanno, Frank den Butter, André Nijsen, Jacopo Torriti

The premise of this quantity is that company laws are anticipated to develop within the close to destiny because of the emergence of a “(world) probability society.” hazards on the topic of terrorism, weather switch, and fiscal crises, for instance, will penetrate all stipulations of lifestyles. more and more, the selections and activities of a few lead to dangers for lots of during this period of globalization. Controlling those hazards implies handling the area via top of the range law, with a selected emphasis on companies and fiscal associations. significant to this procedure is the argument significant, if now not the first, goal of legislation is to internalize externalities, or in a broader context, to fix industry failure. Such fix can simply be comprehensive whilst the prices are smaller than the welfare profits. that includes contributions from researchers and coverage analysts from the fields of economics, administration, legislations, sociology, political technology, and environmental coverage, this booklet makes a speciality of 3 significant themes: • Social dangers and company legislation • Preconditions for higher company law • Theoretical matters on the topic of larger enterprise law jointly, the authors show that the better it really is for regulated companies to conform on the lowest expenses possible—without jeopardizing the comparable public goals—the larger the measure of compliance. while winning, the internet result's a stability of person and collective web advantages, and by means of extra implication, sustainable enterprise perform and monetary growth.

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1987): Health and Safety Risk Analyses: Information for Better Decisions. E. (1997): Risk Evaluation in the United Kingdom: Legal Requirements, Conceptual Foundations, and Practical Experiences with Special Emphasis on Energy Systems. Working Paper No. 92 (Stuttgart: Center of Technology Assessment) 2 Risk Governance: Concept and Application… 35 Nye, J. S. and Donahue, J. D. ). (2000): Governance in a Globalising World. Washington: Brookings Institution. OECD (2003): Emerging Systemic Risks. Final Report to the OECD Futures Project (Paris: OECD).

The Health Council of the Netherlands has therefore published the advisory report Health Significance of Nanotechnology in 2006 which explores governance issues and potential adverse effects of nanotechnology. In its advisory report the committee adopts the description used by the IRGC: “The IRGC recently presented a general framework for risk governance. It corresponds closely with our national ideas on dealing with risks and the Committee believes it can also be used for dealing with the risks of nanotechnologies” (Health Council of the Netherlands 2006, p.

The final product of risk assessment is an estimation of the risk in terms of a probability (or relative frequency) 24 O. Renn and A. Klinke distribution of the modeled consequences (drawing on either discrete events or continuous loss functions). The basis of risk assessment is the systematic use of analytical—largely probabilitybased—methods which have been constantly improved over the past years. Probabilistic risk assessments for large technological systems, for instance, include tools such as fault and event trees, scenario techniques, distribution models based on Geographic Information Systems (GIS), transportation modeling, and empirically driven human–machine interface simulations (IAEA 1995; Stricoff 1995).

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