STS 214 Quiz 4

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  • 1/15 Questions

    Scharipo & Glicksman say that because pragmatism addresses the world as it really exists. pragmatic risk regulation acknowledges

    • Bounded rationality
    • Public irrationality
    • Political rationality
    • Economic rationality
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About This Quiz

STS 214 quiz 4 explores risk regulation, focusing on the balance between economic approaches and social goals, the impact of wealth on protection levels, and the principles of bounded rationality in existing legislation.

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  • 2. 

    Scharipo & Glicksman say that the high aggregate costs of risk regulation cited by some critics obscures the fact that

    • Risk regulations have a purely political purpose

    • Risk regulations have had no actual impact on the economy

    • Risk regulation appears to have generated aggregate benefits in excess of aggregate costs

    • Risk regulations are actively supported by the industries subject to them

    Correct Answer
    A. Risk regulation appears to have generated aggregate benefits in excess of aggregate costs
    Explanation
    The correct answer is "risk regulation appears to have generated aggregate benefits in excess of aggregate costs." This means that the overall benefits of risk regulation outweigh the costs associated with it. Scharipo & Glicksman argue that while critics focus on the high costs of risk regulation, they fail to recognize the positive impact it has on society and the economy. The statement suggests that risk regulations have been effective in achieving their intended goals and have resulted in more benefits than drawbacks.

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  • 3. 

    Scharipo & Glicksman say that the current risk regulation approach

    • Balances the interests of risk creators and risk bearers, but not in the manner indicated by economic theory

    • Balances the interests of risk creators and risk bearers precisely as required by economic theory

    • Balances the interests of risk creators and risk bearers while simply ignoring costs

    • None of the above

    Correct Answer
    A. Balances the interests of risk creators and risk bearers, but not in the manner indicated by economic theory
    Explanation
    The correct answer states that the current risk regulation approach balances the interests of risk creators and risk bearers, but not in the manner indicated by economic theory. This suggests that while the approach does consider the interests of both parties, it does not align with the specific principles or guidelines outlined by economic theory.

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  • 4. 

    Scharipo & Glicksman say that the problem with efforts to calculate the costs and benefits of regulation is 

    • High powered political interference

    • Resistance to government rules on the part of ordinary people

    • That they are often subject to substantial uncertainty because of bounded rationality

    • That costs are imposed immediately while benefits appear only later

    Correct Answer
    A. That they are often subject to substantial uncertainty because of bounded rationality
    Explanation
    The correct answer is that efforts to calculate the costs and benefits of regulation are often subject to substantial uncertainty because of bounded rationality. Bounded rationality refers to the limitations of human cognitive abilities to process and analyze information. In the context of calculating the costs and benefits of regulation, individuals may not have access to complete and accurate information, or they may have cognitive biases that affect their decision-making. This uncertainty makes it challenging to accurately estimate the costs and benefits of regulation, leading to potential inaccuracies in policy decisions.

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  • 5. 

    According to Scharipo & Glicksman, existing risk regulations

    • Make a large positive contribution to economic welfare in the aggregate

    • Have no substantial impact, positive or negative

    • Imposed very hard to economic welfare in the aggregate

    • Make a small, but noticeable, contribution to economic welfare in the aggregate

    Correct Answer
    A. Make a large positive contribution to economic welfare in the aggregate
    Explanation
    According to Scharipo & Glicksman, the existing risk regulations make a large positive contribution to economic welfare in the aggregate. This means that these regulations have a significant and beneficial impact on the overall economic well-being. They are not imposing any substantial negative effects and instead, they are contributing positively to the economic welfare as a whole.

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  • 6. 

    Scharipo & Glicksman say that

    • Congress has almost always rejected a cost-benefit analysis test

    • Congress often imposes a cost-benefit test

    • Congress has never imposed a cost-benefit test

    • Congress has imposed a cost-benefit test, about half the time

    Correct Answer
    A. Congress has almost always rejected a cost-benefit analysis test
    Explanation
    The given correct answer suggests that according to Scharipo & Glicksman, Congress has mostly rejected the implementation of a cost-benefit analysis test. This means that Congress has typically not prioritized or considered the potential costs and benefits associated with a particular policy or decision.

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  • 7. 

    According to Scharipo & Glicksman, a number of studies have been done showing that the costs of regulation have been excessive. Scharipo & Glicksman say that

    • These studies provide a dubious basis upon which to criticize the rationality of existing risk regulations

    • These studies establish beyond doubt the high costs of existing regulations

    • These studies are too ambiguous to allow any conclusions to be drawn

    • None of the above

    Correct Answer
    A. These studies provide a dubious basis upon which to criticize the rationality of existing risk regulations
    Explanation
    The correct answer is "these studies provide a dubious basis upon which to criticize the rationality of existing risk regulations." This answer suggests that the studies mentioned by Scharipo & Glicksman may not be reliable or trustworthy when it comes to criticizing the rationality of existing risk regulations. It implies that the studies may have flaws or biases that make their conclusions questionable.

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  • 8. 

    According to Scharipo & Glicksman critics of current regulation favor a cost-benefit standard, despite the impact of wealth on the level of protection, because

    • They regard market transactions as being based on voluntary choices

    • They do not care whether market transactions are voluntary or not

    • They believe that market transactions can never be voluntary

    • They believe the level of protection should be based on wealth

    Correct Answer
    A. They regard market transactions as being based on voluntary choices
    Explanation
    Critics of current regulation favor a cost-benefit standard because they believe that market transactions are based on voluntary choices. This means that individuals willingly engage in these transactions and should therefore bear the responsibility for any associated risks or costs. By using a cost-benefit standard, these critics argue that regulation can be more efficient and effective in achieving its intended goals. They believe that individuals should have the freedom to make their own choices in the market, even if it means accepting certain risks or costs.

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  • 9. 

    Scharipo & Glicksman say that a system of judicial oversight that affords agencies relatively broaden discretion

    • Is likely to produce regulatory abuses

    • Is more consistent with a pragmatic approach to the implementation of risk regulation

    • Is not consistent with a pragmatic approach to the implementation of risk regulation

    • Is unworkable

    Correct Answer
    A. Is more consistent with a pragmatic approach to the implementation of risk regulation
    Explanation
    The correct answer is "is more consistent with a pragmatic approach to the implementation of risk regulation." This means that according to Scharipo & Glicksman, a system of judicial oversight that gives agencies broader discretion is in line with a practical and realistic approach to implementing regulations regarding risk. This suggests that allowing agencies more flexibility in decision-making can be beneficial in effectively managing and addressing potential risks.

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  • 10. 

    According Scharipo & Glicksman, existing risk reduction legislation satisfies pragmatic principles that regulations should

    • Never allow costs to exceed should

    • Reflect important relevant social norms and be formulated in light of bounded rationality

    • Never take costs into account when dealing with human health risks

    • Pay careful attention to political realitites

    Correct Answer
    A. Reflect important relevant social norms and be formulated in light of bounded rationality
    Explanation
    According to Scharipo & Glicksman, existing risk reduction legislation should reflect important relevant social norms and be formulated in light of bounded rationality. This means that regulations should take into account the values and beliefs of society and should be designed in a way that considers the limitations of human decision-making. By doing so, regulations can be more effective in addressing risks and ensuring the well-being of the public. Additionally, considering social norms and bounded rationality can help in gaining public acceptance and support for the regulations.

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  • 11. 

    Scharipo & Glicksman say that a pragmatic approach to risk regulation

    • Reject entirely the notion of agency discretion

    • Trusts agency experts, thus eliminating the need for oversight

    • Endorses deference to the exercise of agency discretion

    • Fails to address the issue of agency discretion

    Correct Answer
    A. Endorses deference to the exercise of agency discretion
    Explanation
    The correct answer, "endorses deference to the exercise of agency discretion," suggests that Scharipo & Glicksman support the idea that agencies should have the freedom to make decisions and exercise their discretion without excessive oversight. This approach implies that the expertise of agency professionals is trusted and that they are best equipped to regulate risks effectively. It does not reject agency discretion or fail to address it, but rather endorses and supports it.

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  • 12. 

    According to Scharipo & Glicksman, political oversight of regulatory agencies can subvery the benefits of reliance on agency expertise and judgement is

    • The overseeing entity overrides agency technical judgments

    • The overseeing entity overrides agency political judgments

    • The overseeing entity overrides agency economic benefits

    • The overseeing entity overrides agency bureaucratic procedures

    Correct Answer
    A. The overseeing entity overrides agency technical judgments
    Explanation
    When political oversight of regulatory agencies occurs, it means that the overseeing entity has the power to override the technical judgments made by the agency. This can be problematic because regulatory agencies are typically staffed with experts who possess specialized knowledge and expertise in their respective fields. By disregarding their technical judgments, the overseeing entity may make decisions that are not based on sound scientific or technical evidence, potentially undermining the benefits that come from relying on agency expertise and judgment.

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  • 13. 

    According to Scharipo & Glicksman, the use of "appropriation riders" in Congress

    • Helps to overcome sloppy regulatory agency analysis

    • Represents legislative oversight at its worst

    • Allows for greater popular input into regulatory decision-making

    • Enhances the speed with which regulatory agencies issue their rules

    Correct Answer
    A. Represents legislative oversight at its worst
    Explanation
    The use of "appropriation riders" in Congress represents legislative oversight at its worst. This means that the inclusion of appropriation riders in legislation is seen as a negative aspect of legislative oversight. It suggests that these riders are detrimental to the overall effectiveness and efficiency of the legislative process, potentially hindering the ability of regulatory agencies to effectively analyze and make decisions.

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  • 14. 

    Scharipo & Glicksman say that insistence by the overseeing entity on comprehensive analytical rationality

    • Will dramatically improve regulatory agency performance

    • Is perfectly compatible with a pragmatic approach to regulation

    • Can serve to mask the reviewing entity's own substantive biases

    • Is simply irrelevant in the real world

    Correct Answer
    A. Can serve to mask the reviewing entity's own substantive biases
    Explanation
    Insistence on comprehensive analytical rationality by the overseeing entity can serve to mask the reviewing entity's own substantive biases. This means that when the overseeing entity emphasizes the need for thorough and logical analysis in regulatory decision-making, it can potentially hide any personal biases or preferences that the reviewing entity may have. In other words, the focus on rationality can be used as a way to disguise subjective opinions and maintain the appearance of objectivity in the regulatory process.

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  • 15. 

    According to Scharipo & Glicksman, pragmatic analysis reveals that 

    • A purely economic approach to risk regulation should be mandatory

    • A purely economic approach to risk regulation is simply impossible

    • A purely economic approach to risk regulation would capture widely held social goals

    • A purely economic approach to risk regulation would threaten widely held social goals

    Correct Answer
    A. A purely economic approach to risk regulation would threaten widely held social goals
    Explanation
    According to Scharipo & Glicksman, a purely economic approach to risk regulation would threaten widely held social goals. This suggests that solely focusing on economic factors when regulating risks would jeopardize the achievement of broader societal objectives. It implies that there are other important considerations, such as public health, environmental protection, and equity, that need to be taken into account in risk regulation to ensure the preservation of widely held social goals.

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  • Current Version
  • Mar 21, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Dec 12, 2010
    Quiz Created by
    Amburr

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