Pratt, John W.; Zeckhauser, Richard J. - In: Journal of Policy Analysis and Management 1 (1982) 3, pp. 371-385
An extreme event, such as a nuclear accident, an earthquake, a cluster of adverse reactions to a particular drug, or excessive breakdowns of some class of equipment, frequently focuses attention for the first time on an important issue. By then, however, data on the incidence and magnitudes of...