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Hazards Technology and Fairness (1986) / Chapter Skim
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Pages 146-147

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From page 146...
... A second feature of societal problems involving low-probability, highconsequence events is that they create externalities situations in which the actions of one individual affect the welfare of others either positively or negatively. If a community is willing to accept a hazardous waste facility "in its backyard," this creates beneficial effects for an entire region.
From page 147...
... (Buckling one's seat belt is another example of an ex ante action: it reduces the potential consequences of an automobile accident.) By ex post consequences is meant the impact of a disaster or accident on


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