English, Article, Journal or magazine article edition: Formalization and Applications of the Precuationary Principle Claude HENRY; Marc HENRY

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Bookmark: http://trove.nla.gov.au/version/178351
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Formalization and Applications of the Precuationary Principle
Author
  • Claude HENRY
  • Marc HENRY
Physical Description
  • preprint
Notes
  • A formalization of the Precuationary Principle is given here: We formalize scientific knowledge on the likelihood of events in the state space and the concepts of scientifically unambiguous events and acts. We gie a definition of non-precautionary social planner as a Savage Expected Utility maximizer who evaluates acts relativ to a baseline, called Òbusiness as usualÓ, and who disregards scientifically ambguous acts, and we show that, for a wide class of preferences for the representative agent, non-r-precautionary decision making is sub-optimal. A discussion of this formalization is given in the context of national and international debates on Precaution, in the fields of Climate Change, of WTO arbitrages, and of the safety regulations of chemical products.
  • Ambiguity;objectively unambiguous;precaution
  • RePEc:ctl:louvir:2002009
Language
  • English
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