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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1 No estimate would be generally acceptable Estimates could vary ...View the full answer
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