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Designing Safety Regulations for High-Hazard Industries (2018) / Chapter Skim
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6 Summary Assessment
Pages 140-142

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From page 140...
... Regulatory regimes that require management plans and programs are sometimes referred to as performance-based but are more aptly described as means-based regulation. They call for actions and behaviors aimed at improving the ultimate outcome of concern to the regulator; however, they do not require the achievement of specific performance outcomes.
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From page 141...
... In practice, macro-means safety regulations that require management systems tend to be used in combination with micro-level regulations that target specific sources of or pathways to overall risk. In considering the use of macro-level regulations that provide firms with flexibility in the means of compliance, regulators must take into account not only their own ability to enforce and motivate acceptable levels of compliance through means like auditing and field inspections but also opportunities for assisting or collaborating with the regulated industry so that all parties can transition more effectively to these regulations.
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From page 142...
... Regulators, analysts, and researchers need clear concepts for regulatory designs. A systematic and commonly accepted regulatory design taxonomy, such as the one offered in this report, will be valuable in guiding future research, analysis, and regulatory decision making.
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Key Terms

  • regulatory design
  • regulatory regimes
  • safety regulatory
  • safety regulations
  • regulatory decision

  • regulatory impacts
  • regulatory interventions
  • field inspections
  • sometimes referred
  • analyze data

  • firms discretion
  • systematic empirical
  • help regulators
  • specific sources
  • commonly accepted

  • policy criteria
  • inform operator
  • acceptable levels
  • management plans
  • provide firms

  • include objectives
  • accepted regulatory
  • management programs
  • motivate acceptable
  • regulated industry

  • overall risk
  • regulators monitor
  • performance outcomes
  • risk reduction
  • require management


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