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The precautionary principle. Between social norms and economic constructs

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  • Olivier Godard

    (CECO - Laboratoire d'économétrie de l'École polytechnique - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - CNRS - Centre National de la Recherche Scientifique)

Abstract

This paper matches interpretations of the precautionary principle coming from two horizons: economic theory of risk framed in a Bayesian framework, and social heuristic concepts validated by public European and domestic institutions. Although they share some common features, it is shown that concepts and scopes differ a lot. In spite of this difference, analytical economics provide useful insights on key controversial questions for the implementation of this principle as a social norm. Examples concern the reversibility of precautionary measures, the issue of direct application to all individual agents versus reserved application to public bodies, and the burden of bringing appropriate scientific inputs.

Suggested Citation

  • Olivier Godard, 2005. "The precautionary principle. Between social norms and economic constructs," Working Papers hal-00243008, HAL.
    • Handle: RePEc:hal:wpaper:hal-00243008
    Note: View the original document on HAL open archive server: https://hal.science/hal-00243008
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    References listed on IDEAS

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    Cited by:

    1. Claude HENRY & Marc HENRY, 2002. "Formalization and Applications of the Precuationary Principle," LIDAM Discussion Papers IRES 2002009, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    2. Ragnar E. Lofstedt, 2007. "The 'Plateau-ing' of the European Better Regulation Agenda: An Analysis of Activities Carried out by the Barroso Commission1," Journal of Risk Research, Taylor & Francis Journals, vol. 10(4), pages 423-447, June.

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