Policy shock: recalibrating risk and regulation after oil spills, nuclear accidents, and financial crises

Economic analysis, risk regulation, and the dynamics of policy regret / Lori S. Bennear -- Revised risk assessments and the insurance industry / Carolyn Kousky -- Understanding public risk perception and responses to changes in perceived risk / Elke U. Weber -- Focusing events, risk, and regulation / Thomas A. Birkland and Megan K. Warnement -- The story of risk : how narratives shape risk communication, perception and policy / Frederick W. Mayer -- From Santa Barbara to the Exxon-Valdez : policy learning and the emergence of a new regime for managing oil spill risk / Marc Allen Eisner -- The Nordic model of offshore oil regulation : managing crises through a proactive regulator / Ole Andreas Engen and Preben H. Lindoe -- Reform in real time : evaluating reorganization as a response to the gulf oil spill / Christopher Carrigan -- Recalibrating risks of nuclear power : reactions to Tthree-Mile Island, Chernobyl and Fukushima / Elisabeth Pate-Cornell -- Nuclear accidents and policy responses in Europe : comparing the cases of France and Germany / Kristian Krieger, Ortwin Renn, M Brooke Rogers, & Ragnar Lofstedt -- Public attitudes and institutional changes in Japan following nuclear accidents / Atsuo Kishimoto -- Regulatory responses to the financial crises of the Great Depression : Britain, France and the United States / Youssef Cassis -- Financial decommodification : risk and the politics of valuation in U.S. banks / Bruce G. Carruthers -- Euro are risk (mis)management / Barry Eichengreen -- The regulatory responses to the global financial crisis : some uncomfortable questions / Stijn Claessens and Laura Kodres -- Institutional mechanisms for investigating the regulatory implications of a major crisis : the commission of inquiry and the safety board / Edward J. Balleisen, Lori Bennear, David Cheang, Jonathon Free, Megan Hayes, Emily Pechar, and A. Catherine Preston -- Recalibrating risk : crises, learning, and regulatory change / Edward Balleisen, Lori Bennear, Kimberly Krawiec & Jonathan Wiener

Policy Shock examines how policy-makers in industrialized democracies respond to major crises. After the immediate challenges of disaster management, crises often reveal new evidence or frame new normative perspectives that drive reforms designed to prevent future events of a similar magnitude. Such responses vary widely - from cosmetically masking inaction, to creating stronger incentive systems, requiring greater transparency, reorganizing government institutions and tightening regulatory standards. This book situates post-crisis regulatory policy-making through a set of conceptual essays written by leading scholars from economics, psychology and political science, which probe the latest thinking about risk analysis, risk perceptions, focusing events and narrative politics. It then presents ten historically-rich case studies that engage with crisis events in three policy domains: offshore oil, nuclear power and finance. It considers how governments can prepare to learn from crisis events - by creating standing expert investigative agencies to identify crisis causes and frame policy recommendations

Economic analysis, risk regulation, and the dynamics of policy regret / Lori S. Bennear -- Revised risk assessments and the insurance industry / Carolyn Kousky -- Understanding public risk perception and responses to changes in perceived risk / Elke U. Weber -- Focusing events, risk, and regulation / Thomas A. Birkland and Megan K. Warnement -- The story of risk : how narratives shape risk communication, perception and policy / Frederick W. Mayer -- From Santa Barbara to the Exxon-Valdez : policy learning and the emergence of a new regime for managing oil spill risk / Marc Allen Eisner -- The Nordic model of offshore oil regulation : managing crises through a proactive regulator / Ole Andreas Engen and Preben H. Lindoe -- Reform in real time : evaluating reorganization as a response to the gulf oil spill / Christopher Carrigan -- Recalibrating risks of nuclear power : reactions to Tthree-Mile Island, Chernobyl and Fukushima / Elisabeth Pate-Cornell -- Nuclear accidents and policy responses in Europe : comparing the cases of France and Germany / Kristian Krieger, Ortwin Renn, M Brooke Rogers, & Ragnar Lofstedt -- Public attitudes and institutional changes in Japan following nuclear accidents / Atsuo Kishimoto -- Regulatory responses to the financial crises of the Great Depression : Britain, France and the United States / Youssef Cassis -- Financial decommodification : risk and the politics of valuation in U.S. banks / Bruce G. Carruthers -- Euro are risk (mis)management / Barry Eichengreen -- The regulatory responses to the global financial crisis : some uncomfortable questions / Stijn Claessens and Laura Kodres -- Institutional mechanisms for investigating the regulatory implications of a major crisis : the commission of inquiry and the safety board / Edward J. Balleisen, Lori Bennear, David Cheang, Jonathon Free, Megan Hayes, Emily Pechar, and A. Catherine Preston -- Recalibrating risk : crises, learning, and regulatory change / Edward Balleisen, Lori Bennear, Kimberly Krawiec & Jonathan Wiener.