Risk Management Principles for Nanotechnology |
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Authors: | Gary E Marchant Douglas J Sylvester Kenneth W Abbott |
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Institution: | (1) Center for the Study of Law, Science and Technology, Sandra Day O’Connor College of Law, Arizona State University, P.O. Box 877906, Tempe, AZ 85287-7906, USA |
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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. |
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Keywords: | Nanotechnology Regulation Risk management Risk perception Heuristics Voluntary programs |
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