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This paper investigates the role of risk‐benefit analysis in assessing the risk associated with a variety of consumption activities. The issue of prevailing risk is of particular importance to public policy makers who must decide what level of risk requires intervention. Risk‐benefit analysis may be used in three major ways: 1) determination of the level of risk to which consumers are exposed, 2) ranking of consumption activities with respect to risk, and 3) determination of consumption activities which should be addressed by risk reduction strategies. The results of the study indicate that considerable variations exist with respect to the risk levels associated with various consumption activities. The study results also suggest that there may be a need for further government intervention in some high risk areas.

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