Policy Shock

Edward J. Balleisen is Vice Provost for Interdisciplinary Studies and Associate Professor of History at Duke University, North Carolina. A historian of regulatory governance in the United States, his latest book is Fraud: An American History from Barnum to Madoff (2017). He received his Ph.D. from Yale University, Connecticut. Lori S. Bennear is an Associate Professor of Environmental Economics and Policy at Duke University, North Caroline where she is also the Co-Director of the Rethinking Regulation Program at the Kenan Institute for Ethics and the Faculty Lead in Energy Education at the Energy Initiative. Her research focuses on evaluating the effectiveness of flexible environmental policies including information disclosure regulations, management-based regulations, liability regimes and demand-side management programs. Her works spans environmental domains including toxics, drinking water and energy. She received her Ph.D. from Harvard University, Massachusetts. Kimberly D. Krawiec is the Kathrine Robinson Everett Professor of Law at Duke University, North Carolina where she teaches courses on corporate law and financial regulation. Her research centers on the regulation of financial markets, 'taboo' or contested markets and business organizations. Current work examines boards of directors, organ donation and allocation systems, and the administrative process surrounding the Volcker Rule, a provision of Dodd-Frank. She has served as a commentator for the Central European and Eurasian Law Initiative (CEELI) of the American Bar Association and on the faculty of the National Association of Securities Dealers Institute for Professional Development at the Wharton School of Business, University of Pennsylvania. Jonathan B. Wiener is the Perkins Professor of Law and Professor of Environmental Policy and Public Policy at Duke University, North Carolina. He co-directs the program on Rethinking Regulation at Duke. He is a University Fellow of Resources for the Future (RFF). He served as President of the Society for Risk Analysis (SRA) in 2008, and co-chair of the World Congress on Risk in 2012. His books include Risk vs Risk (1995), Reconstructing Climate Policy (2003) and The Reality of Precaution: Comparing Risk Regulation in the United States and Europe (2011). Previously he served at the US Department of Justice, the White House Office of Science and Technology Policy (OSTP) and the White House Council of Economic Advisers (CEA). He helped negotiate the Framework Convention on Climate Change (FCCC) between 1990 and 1992, and helped draft Executive Order 12866 on regulatory review (1993). He clerked for federal judges Stephen G. Breyer (1988–89) and Jack B. Weinstein (1987–88). He received his J.D. (1987) and A.B. (1984, economics) from Harvard University, Massachusetts.

• 1. Introduction Edward J. Balleisen, Lori S. Bennear, Kimberly D. Krawiec and Jonathan B. Wiener; Part I. The Conceptual Terrain of Crises and Risk Perceptions: 2. Economic analysis, risk regulation and the dynamics of policy regret Lori S. Bennear; 3. Revised risk assessments and the insurance industry Carolyn Kousky; 4. Understanding public risk perception and responses to changes in perceived risk Elke U. Weber; 5. Focusing events, risk and regulation Thomas A. Birkland and Megan K. Warnement; 6. The story of risk: how narratives shape risk communication, perception and policy Frederick W. Mayer; Part II. Case Studies on Offshore Oil Spills: 7. From Santa Barbara to the Exxon-Valdez: policy learning and the emergence of a new regime for managing oil spill risk Marc Allen Eisner; 8. The Nordic model of offshore oil regulation: managing crises through a proactive regulator Ole Andreas Engen and Preben H. Lindøe; 9. Reform in real time: evaluating reorganization as a response to the Gulf oil spill Christopher Carrigan; Part III. Case Studies on Nuclear Accidents: 10. Recalibrating risks of nuclear power: reactions to Three-Mile Island, Chernobyl and Fukushima Elisabeth Paté-Cornell; 11. Nuclear accidents and policy responses in Europe: comparing the cases of France and Germany Kristian Krieger, Ortwin Renn, M. Brooke Rogers and Ragnar Löfstedt; 12. Public attitudes and institutional changes in Japan following nuclear accidents Atsuo Kishimoto; Part IV. Case Studies of Financial Crises: 13. Regulatory responses to the financial crises of the Great Depression: Britain, France and the United States Youssef Cassis; 14. Financial decommodification: risk and the politics of valuation in US banks Bruce G. Carruthers; 15. Euro are risk (mis)management Barry Eichengreen; 16. The regulatory responses to the global financial crisis: some uncomfortable questions Stijn Claessens and Laura Kodres; Part V. Conclusions: 17. 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; 18. Recalibrating risk: crises, learning and regulatory change Edward Balleisen, Lori Bennear, Kimberly Krawiec and Jonathan Wiener.