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By V. G. Boltianski

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The concept closest to the technical approach is the economic concept of risk. The major difference here is the transformation of physical harm or other undesired effects into what economists have coined ‘utilities’ (Just et al, 1982; Smith, 1986; Aven, 2003, pp52ff). The base unit of utility describes the degree of satisfaction, or dissatisfaction, associated with a possible action or transaction. Whether physical harm is evaluated as pleasure, indifference or pain remains irrelevant in the technical understanding of risk.

He assumes that collective actions that impose risks on third parties cannot be justified any more by referring to collectively accepted goals, such as progress or economic development. These goals have lost their intuitive attractiveness, as individuals have become more exposed to the negative side effects of technological and social change (Beck, 1992a). In addition, the plurality of values and lifestyles makes it impossible to generate a collective understanding of ‘what is good for society’.

In 1983, the Red Book established the division between the scientific aspects (‘risk assessment’) and political and value aspects (‘risk management’) within the overall process of risk analysis. This division, and several other aspects of the ‘Red Book’ model, have been adopted across a wide variety of risk management fields (Omenn, 2003). • ‘Transparent (inclusive) governance’ model. This model is inspired by the 1996 NRC report on risk characterization in which the interface between assessment and management has been stressed and in which science, politics, economic actors and representatives of civil society are invited to play a role in both assessment and management (NRC, 1996).

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