Acceptable Risk

In The SAGE Encyclopedia of Economics and Society. SAGE (2015)
Download Edit this record How to cite View on PhilPapers
Perhaps the topic of acceptable risk never had a sexier and more succinct introduction than the one Edward Norton, playing an automobile company executive, gave it in Fight Club: “Take the number of vehicles in the field (A), multiply it by the probable rate of failure (B), and multiply the result by the average out of court settlement (C). A*B*C=X. If X is less than the cost of the recall, we don’t do one.” Of course, this dystopic scene also gets to the heart of the issue in another way: acceptable risk deals with mathematical calculations about the value of life, injury, and emotional wreckage, making calculation a difficult matter ethically, politically, and economically. This entry will explore the history of this idea, focusing on its development alongside statistics into its wide importance today.
PhilPapers/Archive ID
Upload history
Archival date: 2017-02-13
View other versions
Added to PP index

Total views
231 ( #23,903 of 58,303 )

Recent downloads (6 months)
11 ( #46,710 of 58,303 )

How can I increase my downloads?

Downloads since first upload
This graph includes both downloads from PhilArchive and clicks on external links on PhilPapers.