Three economists out of Harvard and Vanderbilt recently published a paper on risk management which reflects much of what we believe about warning labels. Current warning systems, such as California’s Proposition 65, fail to differentiate between large and small risks – or, as the authors put it, wolves and puppies. Puppies are common, and although their nip may hurt, a pup doesn’t pose much of a threat. Wolves, on the other hand, are rarely seen, but can introduce real risk to your (or your puppy’s) well-being. Read more.
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