The Institutionalization of Risk

The centrality of risk assessment and risk management to complex organizations testifies to the institutionalization of risk in modern society. Much of the writing on risk assessment and management deals with how decision makers struggle with uncertainty rather than calculable risk. The conceptualization of risk and uncertainty depends in part upon whether one focuses upon decision makers and their decisions or upon outcomes of decisions. Focusing on decision makers leads to concern with risk management whereas focusing on the decision or outcomes draws attention to risk analysis. The papers examined in this paper are primarily concerned with decision makers and risk management. In doing so, we examine the social construction of risks and their control, how intelligence gathering and processing affects risk analysis and management, and the latent functions of risk regulation.     

Agency Accountability Strategies After Liberalization: Universal Service in the United Kingdom, France, and Sweden

Liberalization of key network industries is often said to reduce accountability by undermining its traditional mechanisms. Liberalization, others say, promotes accountability by creating new channels and mechanisms. This article suggests that neither view is sufficiently nuanced. Accountability comes in many forms, and the question is less "how much" accountability there is, but what form it takes. And accountability will take different forms in relation to different issues, even within the same organization. Examining accountability in relation to the provision of universal service in electricity and telecommunications, this article demonstrates that in the regimes studied, agencies were generally accountable for providing universal service by deferring, to the maximum possible extent, to political actors or stakeholders. However, when faced with an expert technical question—in this case, determining the costs of the universal service—agencies stressed their professional judgment and transparency. This observation supports a wider hypothesis concerning the conditions under which a variety of agency accountability strategies may be adopted.