The Economics of Safety and Physical Risk

This book is concerned with the underlying economic questions which arise when decisions are made about the allocation of scarce resources to safety improvement. It examines contributions from other disciplines and explores the interrelationship between them and the economic analysis of safety. The book presents valuable theoretical and empirical results on attitudes to risk and the valuation of safety, and assesses the implications of recent work for public policy in such areas as transport, medical care and radiological protection. The subject matter of the book crosses various disciplinary boundaries and the author's findings will be of interest to a wide range of professionals.