Addressing the risk paradox: Exploring the demand challenges around risk and uncertainty and the supply side of calculative practices

Fischbacher-Smith, D. (2023) Addressing the risk paradox: Exploring the demand challenges around risk and uncertainty and the supply side of calculative practices. In: Eyal, G. and Medvetz, T. (eds.) Oxford Handbook of Expertise and Democratic Politics. Oxford University Press: New York, pp. 401-432. ISBN 9780190848927 (doi: 10.1093/oxfordhb/9780190848927.013.18)

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Abstract

This chapter argues that there is a paradox facing the use of risk analysis, whereby the demand for accurate assessments of risk can be seen to exceed the ability to supply effective calculative practices that have sufficient predictive validity needed to support policy decisions. This problem is exacerbated by the various meanings that are often ascribed to risk in a practical sense. The issue of risk—as measurable uncertainty—has proved to be especially problematic during the Covid-19 pandemic, when the tensions between policymakers and technical experts has led to public disagreements about the nature of the hazards associated with the virus and the associated strategies for mitigation. The chapter concludes by arguing that the paradox at the core of risk analysis can only be addressed if organizations and policy makers both accept and acknowledge the inherent uncertainties that often lie at the core of their attempts to quantify radical forms of uncertainty.

Item Type:Book Sections
Additional Information:eISBN - 9780190848958
Status:Published
Glasgow Author(s) Enlighten ID:Fischbacher-Smith, Professor Denis
Authors: Fischbacher-Smith, D.
College/School:College of Social Sciences > Adam Smith Business School > Management
Publisher:Oxford University Press
ISBN:9780190848927
Copyright Holders:Copyright: © Oxford University Press 2023
First Published:First published in Oxford Handbook of Expertise and Democratic Politics 2023: 401–432
Publisher Policy:Reproduced in accordance with the publisher copyright policy
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