Whether man-made or naturally occurring, large-scale disasters can cause fatalities and injuries, devastate property and communities, savage the environment, impose significant financial burdens on individuals and firms, and test political leadership. Moreover, global challenges such as climate change and terrorism reveal the interdependent and interconnected nature of our current moment: what occurs in one nation or geographical region is likely to have effects across the globe. Our information age creates new and more integrated forms of communication that incur risks that are difficult to evaluate, let alone anticipate. All of this makes clear that innovative approaches to assessing and managing risk are urgently required.
Robinson, Lisa A., W. Kip Viscusi, and Richard J. Zeckhauser. "Efficient Warnings, Not “Wolf or Puppy” Warnings." The Future of Risk Management. Ed. Howard Kunreuther, Robert J. Meyer, and Erwann O. Michel-Kerjan. University of Pennsylvania Press, 2019.