Learning and Irreversibility: An Econmic Interpretation of the "Precautionnary Principle".

We consider the problem of the optimal use of a good whose consumption can produce damages in the future. Potential damages are proportional to the accumulated lifetimeconsumption of the good. Scientific progress is made over time that provides information on the distribution of the intensity of potential damages.

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Year of publication:	1997
Authors:	Gollier, C. ; Jullien, B. ; Treich, N.
Institutions:	Groupe de Recherche en Économie Mathématique et Quantitative (GREMAQ), Toulouse School of Economics (TSE)
Subject:	RISK \| SAVINGS \| ENVIRONMENT

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Series:	Toulouse - GREMAQ.
Type of publication:	Book / Working Paper
Notes:	24 pages
Classification:	D81 - Criteria for Decision-Making under Risk and Uncertainty ; D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving ; Q25 - Water ; Q28 - Government Policy
Source:	RePEc - Research Papers in Economics

Persistent link: https://ebvufind01.dmz1.zbw.eu/10005486546