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Books > Business & Economics > Economics > Microeconomics
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Risk Regulation Lessons from Mad Cows (Paperback)
Loot Price: R1,588
Discovery Miles 15 880
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Risk Regulation Lessons from Mad Cows (Paperback)
Series: Foundations and Trends (R) in Microeconomics
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Risk Regulation Lesson from Mad Cows analyses and compares the
policy responses in the United Kingdom (U.K.) and the United States
(U.S.) to the mad cow disease crisis. Although there was not nearly
as many deaths related to Creutzfeldt-Jakob disease (vCJD) and
bovine spongiform encephalopathy (BSE) as scientist had predicted,
the U.K. mad cow experience is widely regarded as a major policy
debacle. The authors review the policy failures in the U.K., and
also explain why the absence of comparable crisis in the U.S. does
not signal that the mad cow experience has been a U.S. policy
success story. This monograph draws a number of lessons from the
mad cow experience regarding how one should regulate invasive
species risks and deal with dimly understood but potentially
serious risks to large populations. Risk Regulations Lesson from
Mad Cows is organized as follows. After a brief Introduction,
Section 2 examines the nature of risks to animals and humans from
BSE and vCJD. Section 3 presents a mainstream public policy
framework to evaluate the welfare consequences of BSE and vCJD risk
mitigation instruments. Section 4 examines how other governments
have conceptualized the risks for policy purposes. After providing
a chronology of the policy events and policy actions in Section 5,
the authors examine issues pertaining to media coverage and risk
communication in Section 6. Consumer responses to the informational
environment are reviewed in Section 7, and governments' use of
trade policy in Section 8. A controversial effort by one beef
producer to have its beef certified as being BSE-free brings
together a wide set of cross-cutting issues of risk communication,
government regulation, litigation, and international trade, and
will serve as the main policy case study in Section 9. Lastly, in
Section 10 the authors conclude with a review of general lessons
for regulatory policy learned from the crisis.
General
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