The cost–benefit hurdle for safety case regulation
Following the Gulf of Mexico blowout of 2010, various parties called for the introduction of safety case regulation in the US. Such regulation is well known in various other jurisdictions around the world and is regarded as best practice for the regulation of rare but catastrophic events. New regulation in the US must pass the cost/benefit test or alternatively show why strict cost/benefit analysis is inapplicable. This paper argues that safety case regulation can surmount this hurdle. It...[Show more]
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