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.