In 1969 (see Science reference below), Chauncey Starr used a revealed preference approach to find out what risks are considered acceptable by society. He assumed that society had reached equilibrium in its judgment of risks, so whatever risk levels actually existed in society were acceptable. His major finding was that people will accept risks 1,000 greater if they are voluntary (e.g. driving a car) than if they are involuntary (e.g. a nuclear disaster).
"Social Benefits versus Technological Risks" in Science Vol. 165, No. 3899. (Sep. 19, 1969), pp. 1232-1238
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