The heavy and highly visual media coverage of the Virgin Galactic spacecraft crash makes the risk of space tourism clear. Here is the coverge by Andy Pasztor and Jon Ostrower in The Wall Street Journal (sub. req.)
In the future, plaintiffs who sue, even after signing waivers accepting the risk, will likley have a more difficult time contending they really didn't understand what they were taking on. As the WSJ points out, "Particularly in the beginning, lawmakers expect participants in such flights to sign waivers personally accepting the risk."
But, risk, as lawyers well know, is a subjective phenomenon. In the book "Game Theory: A Very Short Introduction," Ken Binmore observes, " ... rational people can have different attitudes to taking risks. In the insurance industry, the insurers are close to being risk neutral and the insurees are risk averse to varying degrees."
The kind of contract the lawyers at Virgin Galactic put together for future tourists will be fascinating to deconstruct.