The point of departure for this paper is the common methodological and policy-making characteristics shared by problems in “risk/benefit analysis” and multiobjective analysis. Indeed, we are not sure of the differences between The point of departure for this paper is the common methodological and policy-making characteristics shared by problems in “risk/benefit analysis” and multiobjective analysis. Indeed, we are not sure of the differences between the two problem types: risk/benefit analysis seems to be simply a new phrase for a specific setting of multiobjective analysis. Multiobjective problems have many conflicting objectives, presenting a challenge to decision makers to select an alternative that will somehow balance the trade-offs among the objectives. Similarly, risk/benefit analysis is directed at problems in which a similar compromise must be struck between the benefits of an action and the risks posed by or inherent in that action. Our claim is that risk/benefit analysis is just multiobjective analysis over two specific objectives: benefits (itself a multidimensional measure of system performance in the general case) and risk.the two problem types: risk/benefit analysis seems to be simply a new phrase for a specific setting of multiobjective analysis. Multiobjective problems have many conflicting objectives, presenting a challenge to decision makers to select an alternative that will somehow balance the trade-offs among the objectives. Similarly, risk/benefit analysis is directed at problems in which a similar compromise must be struck between the benefits of an action and the risks posed by or inherent in that action. Our claim is that risk/benefit analysis is just multiobjective analysis over two specific objectives: benefits (itself a multidimensional measure of system performance in the general case) and risk.