CoverAs in several of my former posts ( 1, 2, 3, 4, 5, 6) sometimes I deviate a little from the extreme focus on supply chain risk management, to think about related topics, like today, where I want to highlight the effects of regulation to minimize risks. This article was already written in 1984 by Steven Shavell and it can be downloaded at Harvard University.

Study background

The author, Steven M. Shavell, is a law professor at Harvard law school and associated with the theory of Welfarism.

In his 1984 paper with the title “A model of the optimal use of liability and safety regulation”, he elaborates on the question of how a society should optimally enact legislation to reduce risks on a societal level.

Continue reading "Model for Optimal Regulation for Risk Reduction"

Originally posted by (Daniel Stengel) at