Bounded Awareness, Heuristics and the Precautionary Principle

Abstract: The precautionary principle has been proposed as a basis for making decisions about envi- ronmental issues but remains controversial. Using a model of inductively justified propositions about awareness, this paper shows how the precautionary principle may be interpreted as a heuristic guide for boundedly rational decisionmakers faced with the possibility of unfavorable surprises.

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Year of publication:	2012-04-15
Authors:	Grant, Simon ; Quiggin, John
Institutions:	School of Economics, University of Queensland
Subject:	: precautionary principle \| unawareness \| bounded rationality \| induction \| Industrial Organization

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Extent:	application/pdf
Series:	Risk and Sustainable Management Group Working Papers.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series School of Economics>Risk and Sustainable Management Group Working Papers Number 151203
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010879351