Seminar
Bounded awareness, heuristics and the Precautionary Principle
Economics
Speaker: | Professor Simon Grant, University of Queensland |
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Website: | http://www.uq.edu.au/economics/professor-simon-grant |
Date: | Wednesday 28 March 2012 |
Time: | 16.15 |
Location: | STC/D |
Further details
The precautionary principle has been proposed as a basis for making decisions about environmental 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.