Bounded awareness, heuristics and the Precautionary Principle

Economics

Speaker:Professor Simon Grant, University of Queensland
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.