Wading Through the Muddle of Risk-Utility Analysis
Viscusi, W. Kip
:
1990
Abstract
The original emphasis of risk-utility analysis on the need for balanced
decisions with respect to product liability is a correct and fundamental
principle. Moreover, many traditional factors that have
been considered are legitimate, but they did not provide a framework
for comprehensive and consistent risk-utility judgments. The
development in this Article of a series of economic formulations of
the risk-utility test is intended to establish a sounder basis for a
products liability defect doctrine.
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