The Precautionary Principle in Environmental Policy and the Theory of Choice under Uncertainty
Author
Abstract
Suggested Citation
DOI: 10.22004/ag.econ.149847
Download full text from publisher
Other versions of this item:
- John Quiggin, 2005. "The precautionary principle in environmental policy and the theory of choice under uncertainty," Murray-Darling Program Working Papers WPM05_3, Risk and Sustainable Management Group, University of Queensland.
References listed on IDEAS
- Itzhak Gilboa & David Schmeidler, 1995.
"Case-Based Decision Theory,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 110(3), pages 605-639.
- Itzhak Gilboa & David Schmeidler, 1992. "Case-Based Decision Theory," Discussion Papers 994, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Itzhak Gilboa & David Schmeidler, 1995. "Case-Based Decision Theory," Post-Print hal-00753144, HAL.
- Daniel Kahneman & Amos Tversky, 2013.
"Prospect Theory: An Analysis of Decision Under Risk,"
World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127,
World Scientific Publishing Co. Pte. Ltd..
- Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
- Amos Tversky & Daniel Kahneman, 1979. "Prospect Theory: An Analysis of Decision under Risk," Levine's Working Paper Archive 7656, David K. Levine.
- Gollier, Christian & Treich, Nicolas, 2003. "Decision-Making under Scientific Uncertainty: The Economics of the Precautionary Principle," Journal of Risk and Uncertainty, Springer, vol. 27(1), pages 77-103, August.
- Schmeidler, David, 1989.
"Subjective Probability and Expected Utility without Additivity,"
Econometrica, Econometric Society, vol. 57(3), pages 571-587, May.
- David Schmeidler, 1989. "Subjective Probability and Expected Utility without Additivity," Levine's Working Paper Archive 7662, David K. Levine.
- Rothschild, Michael & Stiglitz, Joseph E., 1970. "Increasing risk: I. A definition," Journal of Economic Theory, Elsevier, vol. 2(3), pages 225-243, September.
- Quiggin, John, 1982. "A theory of anticipated utility," Journal of Economic Behavior & Organization, Elsevier, vol. 3(4), pages 323-343, December.
- Newell, Richard G. & Pizer, William A., 2003.
"Discounting the distant future: how much do uncertain rates increase valuations?,"
Journal of Environmental Economics and Management, Elsevier, vol. 46(1), pages 52-71, July.
- Pizer, William & Newell, Richard, 2000. "Discounting the Distant Future: How Much Do Uncertain Rates Increase Valuations?," RFF Working Paper Series dp-00-45, Resources for the Future.
- Newell, Richard G. & Pizer, William A., 2001. "Discounting the Distant Future: How Much Do Uncertain Rates Increase Valuations?," Discussion Papers 10743, Resources for the Future.
- Gollier, Christian & Jullien, Bruno & Treich, Nicolas, 2000.
"Scientific progress and irreversibility: an economic interpretation of the 'Precautionary Principle',"
Journal of Public Economics, Elsevier, vol. 75(2), pages 229-253, February.
- C. Gollier & Bruno Jullien & Nicolas N. Treich, 2000. "Scientific progress and irreversibility : an economic interpretation of the Precautionary principle [[Progrès scientifique et irréversibilité : une interprétation économique du principe de précauti," Post-Print hal-02687900, HAL.
- Gilboa, Itzhak & Schmeidler, David, 1989.
"Maxmin expected utility with non-unique prior,"
Journal of Mathematical Economics, Elsevier, vol. 18(2), pages 141-153, April.
- Gilboa, Itzhak & Schmeidler, David, 1986. "Maxmin Expected Utility with a Non-Unique Prior," Foerder Institute for Economic Research Working Papers 275405, Tel-Aviv University > Foerder Institute for Economic Research.
- Itzhak Gilboa & David Schmeidler, 1989. "Maxmin Expected Utility with Non-Unique Prior," Post-Print hal-00753237, HAL.
- Kenneth J. Arrow & Anthony C. Fisher, 1974.
"Environmental Preservation, Uncertainty, and Irreversibility,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 88(2), pages 312-319.
- Kenneth J. Arrow & Anthony C. Fisher, 1974. "Environmental Preservation, Uncertainty, and Irreversibility," Palgrave Macmillan Books, in: Chennat Gopalakrishnan (ed.), Classic Papers in Natural Resource Economics, chapter 4, pages 76-84, Palgrave Macmillan.
- William D. Nordhaus, 1979. "How Should We Revise Our Beliefs About Nuclear Power Safety After Three Mile Island?," Cowles Foundation Discussion Papers 532, Cowles Foundation for Research in Economics, Yale University.
- Machina, Mark J & Schmeidler, David, 1992. "A More Robust Definition of Subjective Probability," Econometrica, Econometric Society, vol. 60(4), pages 745-780, July.
- Geoffrey Heal & Bengt Kriström, 2002. "Uncertainty and Climate Change," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 22(1), pages 3-39, June.
- Henry, Claude, 1974. "Investment Decisions Under Uncertainty: The "Irreversibility Effect."," American Economic Review, American Economic Association, vol. 64(6), pages 1006-1012, December.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Harin, Alexander, 2006. "Scientific Revolution? A Farewell to EconWPA. MPRA is welcome," MPRA Paper 71, University Library of Munich, Germany.
- Nabil I. Al-Najjar, 2015. "A Bayesian Framework for the Precautionary Principle," The Journal of Legal Studies, University of Chicago Press, vol. 44(S2), pages 337-365.
- David Adamson & David Cook, 2007.
"Re-examining economic options for import risk assessments,"
Murray-Darling Program Working Papers
WP3M07, Risk and Sustainable Management Group, University of Queensland.
- Adamson, David & Cook, David C., 2007. "Re-examining the economic options for import risk assessments," 2007 Conference (51st), February 13-16, 2007, Queenstown, New Zealand 10365, Australian Agricultural and Resource Economics Society.
- Adamson, David & Cook, David, 2007. "Re-examining economic options for import risk assessments," Risk and Sustainable Management Group Working Papers 149869, University of Queensland, School of Economics.
- Pablo Brañas-Garza & Antonio Cabrales & Maria Paz Espinosa & Diego Jorrat, 2022.
"The Effect of Ambiguity in Strategic Environments: an Experiment,"
Working Papers
196, Red Nacional de Investigadores en Economía (RedNIE).
- Pablo Bra~nas-Garza & Antonio Cabrales & Mar'ia Paz Espinosa & Diego Jorrat, 2022. "The effect of ambiguity in strategic environments: an experiment," Papers 2209.11079, arXiv.org.
- Peterson, Deborah C., 2006. "Precaution: principles and practice in Australian environmental and natural resource management," Conference Workshop Proceedings 31906, Productivity Commission.
- Alexander Harin, 2005. "Gains and losses. The same or different choices?," International Finance 0508004, University Library of Munich, Germany.
- Alexander Harin, 2006. "A Rational Irrational Man?," Microeconomics harin_alexander.34115-060, Socionet.
- Alexander Harin, 2005. "Gains and losses: the same or different choices? A “non-ideal” economics approach," International Finance 0509002, University Library of Munich, Germany.
- Clarke Harry, 2008.
"Classical decision rules and adaptation to climate change ,"
Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 52(4), pages 487-504, December.
- Clarke, Harry, 2008. "Classical Decision Rules and Adaption to Climate Change," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 54(4), pages 1-18.
- Peterson, Deborah C., 2006. "Precaution: principles and practice in Australian environmental and natural resource management," 2006 Conference (50th), February 8-10, 2006, Sydney, Australia 137764, Australian Agricultural and Resource Economics Society.
- Quiggin, John, 2008.
"Uncertainty and Climate Change Policy,"
Economic Analysis and Policy, Elsevier, vol. 38(2), pages 203-210, September.
- Quiggin, John, 2008. "Uncertainty and climate change policy," Risk and Sustainable Management Group Working Papers 152092, University of Queensland, School of Economics.
- John Quiggin, 2008. "Uncertainty and climate change policy," Climate Change Working Papers WPC08_2, Risk and Sustainable Management Group, University of Queensland, revised Sep 2008.
- Alexander Harin, 2005. "Scientific Revolution. A Farewell to EconWPA," Method and Hist of Econ Thought 0512003, University Library of Munich, Germany.
- Alexander Harin, 2006. "Principle of Uncertain Future," Microeconomics harin_alexander.34115-061, Socionet.
- Alexander Harin, 2005. "A Rational Irrational Man," Public Economics 0511005, University Library of Munich, Germany.
- Harin, Alexander, 2007. "Principle of uncertain future and utility," MPRA Paper 1959, University Library of Munich, Germany.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- LANGE Andreas & TREICH Nicolas, 2007. "Uncertainty, Learning and Ambiguity in Economic Models on Climate Policy: Some Classical Results and New Directions," LERNA Working Papers 07.16.237, LERNA, University of Toulouse.
- W. Botzen & Jeroen Bergh, 2014. "Specifications of Social Welfare in Economic Studies of Climate Policy: Overview of Criteria and Related Policy Insights," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 58(1), pages 1-33, May.
- Courbage, Christophe & Rey, Béatrice & Treich, Nicolas, 2013.
"Prevention and precaution,"
TSE Working Papers
13-445, Toulouse School of Economics (TSE).
- Courbage, Christophe & Rey, Béatrice & Treich, Nicolas, 2013. "Prevention and precaution," IDEI Working Papers 805, Institut d'Économie Industrielle (IDEI), Toulouse.
- Pauline Barrieu & Bernard Sinclair-Desgagné, 2006. "On Precautionary Policies," Management Science, INFORMS, vol. 52(8), pages 1145-1154, August.
- Cerreia-Vioglio, Simone & Maccheroni, Fabio & Marinacci, Massimo & Montrucchio, Luigi, 2012.
"Probabilistic sophistication, second order stochastic dominance and uncertainty aversion,"
Journal of Mathematical Economics, Elsevier, vol. 48(5), pages 271-283.
- Simone Cerreia-Vioglio & Fabio Maccheroni & Massimo Marinacci & Luigi Montrucchio, 2010. "Probabilistic Sophistication, Second Order Stochastic Dominance, and Uncertainty Aversion," Carlo Alberto Notebooks 174, Collegio Carlo Alberto.
- Simone Cerreia‐Vioglio & David Dillenberger & Pietro Ortoleva, 2015.
"Cautious Expected Utility and the Certainty Effect,"
Econometrica, Econometric Society, vol. 83, pages 693-728, March.
- Simone Cerreia-Vioglio & David Dillenberger & Pietro Ortoleva, 2013. "Cautious Expected Utility and the Certainty Effect," PIER Working Paper Archive 13-037, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
- Simone Cerreia-Vioglio & David Dillenberger & Pietro Ortoleva, 2014. "Cautious Expected Utility and the Certainty Effect," PIER Working Paper Archive 14-005, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
- Simone Cerreia-Vioglio & David Dillenberger & Pietro ortoleva, 2013. "Cautious Expected Utility and the Certainty Effect," Working Papers 488, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
- Mohammed Abdellaoui & Horst Zank, 2023. "Source and rank-dependent utility," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 75(4), pages 949-981, May.
- Amit Kothiyal & Vitalie Spinu & Peter Wakker, 2014. "An experimental test of prospect theory for predicting choice under ambiguity," Journal of Risk and Uncertainty, Springer, vol. 48(1), pages 1-17, February.
- Meglena Jeleva & Stéphane Rossignol, 2019.
"Optimists, Pessimists, and the Precautionary Principle,"
Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 74(1), pages 367-396, September.
- Meglena Jeleva & Stéphane Rossignol, 2019. "Optimists, Pessimists, and the Precautionary Principle," Post-Print hal-02047321, HAL.
- Meglena Jeleva & Stéphane Rossignol, 2019. "Optimists, Pessimists, and the Precautionary Principle," Post-Print hal-04256724, HAL.
- Zvi Safra & Uzi Segal, 2005. "Are Universal Preferences Possible? Calibration Results for Non-Expected Utility Theories," Boston College Working Papers in Economics 633, Boston College Department of Economics.
- Thomas Astebro & Frank Fossen & Cédric Gutierrez, 2024.
"Entrepreneurs: Clueless, Biased, Poor Heuristics, or Bayesian Machines?,"
Working Papers
hal-04759301, HAL.
- Astebro, Thomas B. & Fossen, Frank M. & Gutierrez, Cédric, 2024. "Entrepreneurs: Clueless, Biased, Poor Heuristics, or Bayesian Machines?," IZA Discussion Papers 17231, Institute of Labor Economics (IZA).
- Astebro, Thomas B. & Fossen, Frank M. & Gutierrez, Cédric, 2024. "Entrepreneurs: Clueless, Biased, Poor Heuristics, or Bayesian Machines?," HEC Research Papers Series 1529, HEC Paris.
- Dorian Jullien & Alexandre Truc, 2024. "Towards a History of Behavioral and Experimental Economics in France," GREDEG Working Papers 2024-23, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
- Evren, Özgür, 2019. "Recursive non-expected utility: Connecting ambiguity attitudes to risk preferences and the level of ambiguity," Games and Economic Behavior, Elsevier, vol. 114(C), pages 285-307.
- Paolo Ghirardato & Massimo Marinacci, 2000.
"Risk, Ambiguity, and the Separation of Utility and Beliefs,"
Levine's Working Paper Archive
7616, David K. Levine.
- Paolo Ghirardato & Massimo Marinacci, 2000. "Risk, Ambiguity and the Separation of Utility and Beliefs," Econometric Society World Congress 2000 Contributed Papers 1143, Econometric Society.
- Massimo Marinacci & Paolo Ghirardato, 2001. "Risk, ambiguity, and the separation of utility and beliefs," ICER Working Papers - Applied Mathematics Series 21-2001, ICER - International Centre for Economic Research.
- Ghirardato, Paolo & Marinacci, Massimo, 2000. "Risk, Ambigity and the Separation of Utility and Beliefs," Working Papers 1085, California Institute of Technology, Division of the Humanities and Social Sciences.
- Bond, Craig A. & Iverson, Terrence, 2011. "Modeling Information in Environmental Decision-Making," Western Economics Forum, Western Agricultural Economics Association, vol. 10(2), pages 1-17.
- Dillenberger, David & Segal, Uzi, 2017.
"Skewed noise,"
Journal of Economic Theory, Elsevier, vol. 169(C), pages 344-364.
- David Dillenberger & Uzi Segal, 2013. "Skewed Noise," Boston College Working Papers in Economics 843, Boston College Department of Economics, revised 26 Jul 2016.
- David Dillenberger & Uzi Segal, 2015. "Skewed Noise," PIER Working Paper Archive 15-015, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
- David Dillenberger & Uzi Segal, 2013. "Skewed Noise," PIER Working Paper Archive 13-066, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
- Nathalie Moureau & Dorothée Rivaud Danset, 2004. "L'incertitude dans les théories économiques," Post-Print hal-03995208, HAL.
- Laurent Denant-Boemont & Olivier L’Haridon, 2013.
"La rationalité à l'épreuve de l'économie comportementale,"
Revue française d'économie, Presses de Sciences-Po, vol. 0(2), pages 35-89.
- Laurent Denant-Boèmont & Olivier l'Haridon, 2013. "La rationalité à l’épreuve de l’économie comportementale," Economics Working Paper Archive (University of Rennes & University of Caen) 201323, Center for Research in Economics and Management (CREM), University of Rennes, University of Caen and CNRS.
- Laurent Denant-Boèmont & Olivier L’haridon, 2013. "La rationalité à l'épreuve de l'économie comportementale," Post-Print halshs-00921070, HAL.
- Belianin, A., 2017. "Face to Face to Human Being: Achievements and Challenges of Behavioral Economics," Journal of the New Economic Association, New Economic Association, vol. 34(2), pages 166-175.
- Izhakian, Yehuda, 2017. "Expected utility with uncertain probabilities theory," Journal of Mathematical Economics, Elsevier, vol. 69(C), pages 91-103.
More about this item
Keywords
Environmental Economics and Policy;JEL classification:
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:uqsers:149847. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/decuqau.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.