Risk Assessment and Risk Management: An Essential Integration

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The integration of Risk Assessment and Risk Management is a necessary step in environmental regulation. The compromises involved in the Risk Management process can not be allowed to violate the scientific integrity of the Risk Assessment. The inclusion of a cost/benefit analysis necessitates the valuation of ecological processes. These values are based on the costs of replacement in volume, in kind, and in place. The Risk Management is then presented as a Rolling Stewardship where Risk Management is balanced with Cash Management.

Keywords: ecological valuation; ecosystem services; rolling stewardship

Document Type: Research Article

DOI: http://dx.doi.org/10.1080/10807039891284884

Affiliations: Michigan State University, East Lansing, MI 48824

Publication date: August 1, 1998

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