10.2190/4RLW-PFVK-HAU3-3QLU 4RLWPFVKHAU33QLU 2 Regulating Nonnuclear Industrial wastes by Hazard classification 21 41 20020509 20020509 20020509 20020509 4RLWPFVKHAU33QLU.pdf http://baywood.metapress.com/link.asp?target=contribution&id=4RLWPFVKHAU33QLU 1 Jonathan F. Bard College of Business Administration, Northeastern University With the passage of the Resource Conservation and Recovery Act efforts to provide tighter controls on the disposal of nonnuclear industrial wastes have been steadily gaining ground. This paper first discusses the current approach to the regulatory problem and then suggests an integrated strategy based on hazard classification. Traditional methods of risk-benefit analysis are examined but found wanting in their selection criteria. As an alternative a decision model based on cost referents and socioeconomic constraints is offered as a means of comparing different policies. An example is given to illustrate the methodology and computations. W. D. Rowe, Governmental Regulation of Societal Risks, <i>The George Washington Law Review, 45</i>:5, pp. 944-968, 1977. D. J. Lennett, Handling Hazardous Wastes: An Unsolved Problem, <i>Environment, 22</i>:8, pp. 6-15, 1980. S. I. Friedland, The New Hazardous Waste Management System: Regulation of Wastes or Wasted Regulation?, <i>Harvard Environmental Law Review, 5</i>, pp. 89-129, 1981. Public Law 94-580; also see Code of Federal Regulations Title 40, Section 261, Subparts B, C, D and Appendix VIII. United States Environmental Protection Agency, <i>Hazardous Waste and Consolidated Permit Regulations</i>, Federal Regulation, <i>45</i>:98, Book 2, 1980. Sterling Hobe Corporation, <i>Hazardous Waste Categories: A Review of Literature and Past Research Effort, I</i>, prepared for the Materials Program, Office of Technology Assessment, Washington, D. C., 1980. Office of Technology Assessment, <i>Nonnuclear Industrial Hazardous Waste: Classifying for Hazard Management</i>, Government Printing Office, Stock No. 052-003-00859-9, Washington, D. C., November, 1981. A. J. Klee and M. U. Flanders, Classification of Hazardous Wastes, <i>Proceedings of the American Society of Civil Engineering, Journal of the Environmental Engineering Division 106</i>(EEI), pp. 163-175, 1980. J. Baranson, Risk Perception of Technology Decisions in Public Enterprises: A Framework for Further Research, <i>Engineering Economist, 23</i>:1, pp. 31-39, 1977. D. Okrent (ed.), <i>Risk Benefit Methodology and Applications: Some Papers Presented at the Engineering Foundation Workshop</i>, UCLA-ENG-7598, Asilomar, Calif., prepared for the National Science Foundation, 1975. C. Starr, Social Benefits versus Technological Risk, <i>Science, 165</i>, pp. 1232-1238, 1969. W. J. Baumol and W. E. Oates, <i>The Theory of Environmental Policy</i>, Prentice-Hall, Englewood Cliffs, N. J., 1975. A. P. Sage and E. B. White, Methodologies for Risk and Hazard Assessment: A Survey and Status Report, <i>IEEE Trans. Systems, Man, and Cybernetics SMC-10</i>:8, pp. 425-446, 1980. J. F. Bard, A Decision Model for the Regulation of Hazardous Wastes, <i>Journal of Environmental Systems, 9</i>:4, pp. 335-348, 1979-80. R. Thaler and S. Rosen, The Value of Saving a Life: Evidence From the Labor Market, in <i>Household Production and Consumption</i>, N. E. Terleckyj, (ed.), National Bureau of Economic Research, New York, pp. 265-302, 1975. E. J. Mishan, Evaluation of Life and Limb: A Theoretical Approach, <i>Journal of Political Economy, 79</i>, pp. 687-705, 1971. P. R. Portney, Housing Prices, Health Effects, and Value Reductions in Risk and Death, <i>Journal of Environmental Economics and Management, 8</i>, pp. 72-78, 1981. M. W. Oberle, Lead Poisoning: A Preventable Childhood Disease of the Slums, <i>Science, 165</i>, pp. 991, 1969. Allocating the Costs of Hazardous Waste Disposal, <i>Harvard Law Review, 94</i>:3, pp. 584-604, 1981. 45 Federal Regulation 33 (1980); also see Code of Federal Regulations title 40 Section 263. R. Kasper, Cost-Benefit Analysis in Environmental Decisionmaking, <i>The George Washington Law Review, 45</i>:5, pp. 1013-1024, 1977. M. Halebsky, Ocean Incineration of Toxic Chemical Wastes, Chapter 13 in <i>Toxic and Hazardous Waste Disposal, 4</i>, R. B. Pojasek (ed.), Ann Arbor Science Publications, Ann Arbor, Michigan, 1980.