In his first presidential candidate debate with Senator Robert Dole, President Clinton cited hazardous waste cleanup among his administration's important environmental efforts. W. Kip Viscusi's most recent book deals with the rationality of these and other efforts addressed at reducing risk and compensating risk victims. Unfortunately for President Clinton, the book's main conclusion about government efforts in general and hazardous waste cleanup in particular is negative: government regulations often mirror the irrationalities present in individual decisions leading to costly and relatively ineffective policies.

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Journal of Economic Literature
Erasmus School of Economics

Bleichrodt, H. (2000). Rational Risk Policy by W.Kip Viscusi. Journal of Economic Literature. Retrieved from