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- W2502680069 abstract "Abstract Explores how far variety amongst risk regulation regimes can be explained by ‘market failure’ explanations of risk regulation. A ‘market failure’ approach assumes that state activity will consist of the minimal level of intervention needed to correct for specific failures in market or tort‐law processes created by risks—i.e. where the costs of individuals informing themselves about risks or opting out of risks through market or civil law methods are very high. This chapter analyses the market failure characteristics of the nine case‐study risks and then compares theoretical expectations with what is observed in practice. Analysis suggests that ‘market failure’ explanations can go some way in explaining observed regime variety, and certainly take us beyond superficial ideas of the ‘nanny state’ or its converse, but cannot predict a substantial proportion of observed features and paradoxes." @default.
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- W2502680069 date "2001-08-23" @default.
- W2502680069 modified "2023-09-24" @default.
- W2502680069 title "Exploring the ‘Market Failure’ Hypothesis" @default.
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- W2502680069 doi "https://doi.org/10.1093/0199243638.003.0005" @default.
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