National experts in the developed countries continue to rank aviation near the very top of sectors threatened by terrorism. But a systematic methodology to set security policy, taking to account the cost, drawbacks and advantages of individual methods and exploring the extent to which they cohere into mutually reinforcing strategy. Principally, the techniques of cost-benefit analysis and risk management are suited to the task. As described, ‘aviation security policy’ is a set of measures taken primarily to reduce the risk of terrorism. The concept of terrorism includes all criminal acts that threaten air travelers. As noted, two economic paradigms about decision making might help in structuring an aviation security policy: cost-benefit analysis and risk management.