Among experts there are different views on how to find the right balance between safety for personnel and economic values. Many economists prefer to use a traditional cost-benefit analysis as basis for such decisions. All attributes are then transformed into one comparable unit, and decisions are strongly made with reference to a calculated ENPV. Among safety experts, traditional cost-benefit analyses are often rejected as there are too many weaknesses and limitations to justify their use. In addition, safety experts also often argue for stronger weight to the cautionary principle than what is made through expected values.
With reference to the different views among experts on how to balance between economic values and safety and on how much weight that should be given to the uncertainties, we will in this seminar discuss whether economists and the economic thinking is an obstacle for good risk and safety management. Or whether stronger cooperation with the economists is a necessity for a successful management of risk.
Top researchers within the field, both economists and safety experts, will contribute to the seminar.
Date: Monday 31 October 2016
Place: Måltidets hus (Ipark), Richard Johnsens gate 4, Stavanger, Norway
Seminar fee: NOK 2000