Foundations and Trends in Microeconomics
Vol. 8, Issue 4, Pages 231-313
Risk Regulation Lesson from Mad Cows analyses and compares the policy responses in the U.K. and U.S. to the mad cow disease crisis. The article concludes with a series of ten public policy lessons for dealing with similar emerging risks. This monograph draws a number of lessons from the mad cow experience regarding how one should regulate invasive species risks and deal with dimly understood but potentially serious risks to large populations.
Aldy, Joseph, and W. Kip Viscusi. "Risk Regulation Lessons from Mad Cows." Foundations and Trends in Microeconomics 8.4 (December 2013): 231-313.