Bounded awareness, heuristics and the Precautionary Principle
|Speaker:||Professor Simon Grant, University of Queensland|
|Date:||Wednesday 28 March 2012|
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.