1. Assume that a disaster is estimated to cost society 1000bn (1 000 000 000 000). The...

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1. Assume that a disaster is estimated to cost society £1000bn (£1000000000000). The chances of the disaster occurring are said to be minute, however. Estimates vary from a probability of one in a million to one in a billion. What estimate of this cost would you include in a cost–benefit analysis?

2. Why are many developing countries apparently prepared to accept riskier projects than are industrialised countries?

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Economics

ISBN: 978-1292187853

10th edition

Authors: John Sloman, Jon Guest, Dean Garratt

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