How Risk Analysis Can Improve Wisconsin Regulations and Save Lives

Abstract

The analysis of risks is important both in our daily lives as individuals and at a collective level when governments set policy. Wisconsin policy makers should consider requiring risk analysis like that outlined in this chapter. It may be fairly easy to incorporate risk analysis into existing regulatory analysis (or to add it as an additional requirement), thereby improving the objectiveness and transparency of Wisconsin regulations’ impacts. If such analysis is conducted properly and used in decision making, it could save lives and reduce costs simultaneously.

Keywords: Risk Analysis, Regulations, Mortality

JEL Classification: D61, I18, J17, K32