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Related Experiment Videos

Tools for comparative analysis of alternatives: competing or complementary perspectives?

Patrick Hofstetter1, Jane C Bare, James K Hammitt

  • 1U.S. EPA, National Risk Management Research Laboratory, Cincinnati, OH, USA. patrick_hofstetter@yahoo.com

Risk Analysis : an Official Publication of the Society for Risk Analysis
|November 22, 2002
PubMed
Summary

Environmental policy requires analyzing countervailing risks. A comprehensive risk assessment framework is needed to manage direct, indirect, and economic impacts effectively.

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Area of Science:

  • Environmental policy and risk management
  • Decision analysis

Background:

  • Third-generation environmental policies necessitate analysis of countervailing risks.
  • Existing risk assessment tools are fragmented and applied across overlapping fields.

Purpose of the Study:

  • To establish a foundation for understanding available risk analysis tools.
  • To identify gaps in current risk assessment methodologies.
  • To aid decision-makers in prioritizing environmental policy alternatives.

Main Methods:

  • Identified 10 types of environmental risks (direct, upstream, downstream, accidental, occupational, offsetting behavior, disposable income changes, macro-economic changes, resource depletion, manmade environment).
  • Reviewed and analyzed existing risk assessment tools.
  • Examined the application of tools to various fields.

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Main Results:

  • No single tool addresses all 10 identified risk types.
  • Tools for risk analysis have been developed independently.
  • Risks associated with changes in disposable income may be particularly significant.

Conclusions:

  • A unified framework for comparative risk analysis is suggested.
  • Understanding the appropriate application of single tools is crucial.
  • Further research should incorporate the decision-making process itself.