Risk Management Principles for Nanotechnology

NanoEthics, Vol. 2, pp. 43-60, 2008

18 Pages Posted: 16 Oct 2007 Last revised: 17 Jul 2014

Douglas J. Sylvester

Arizona State University - College of Law

Kenneth W. Abbott

Arizona State University

Gary E. Marchant

Arizona State University - College of Law

Abstract

Risk management of nanotechnology is challenged by the enormous uncertainties about the risks, benefits, properties, and future direction of nanotechnology applications. Because of these uncertainties, traditional risk management principles such as acceptable risk, cost-benefit analysis, and feasibility are unworkable, as is the newest risk management principle, the precautionary principle. Yet, simply waiting for these uncertainties to be resolved before undertaking risk management efforts would not be prudent, in part because of the growing public concerns about nanotechnology driven by risk perception heuristics such as affect and availability. A more reflexive, incremental, and cooperative risk management approach is required, which not only will help manage emerging risks from nanotechnology applications, but will also create a new risk management model for managing future emerging technologies.

Keywords: technology, heuristic, risk, regulation, uncertainty, braithwaite, model, emerging, psychology, precautionary

Suggested Citation

Sylvester, Douglas J. and Abbott, Kenneth W. and Marchant, Gary E., Risk Management Principles for Nanotechnology. NanoEthics, Vol. 2, pp. 43-60, 2008. Available at SSRN: https://ssrn.com/abstract=1020104

Douglas J. Sylvester (Contact Author)

Arizona State University - College of Law ( email )

Box 877906
Tempe, AZ 85287-7906
United States

Kenneth Wayne Abbott

Arizona State University ( email )

Box 877906
Tempe, AZ 85287-7906
United States
480-965-5917 (Phone)

Gary E. Marchant

Arizona State University - College of Law ( email )

Box 877906
Tempe, AZ 85287-7906
United States
(480) 965-3246 (Phone)
(480) 965-2427 (Fax)

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