Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/155071
Authors: 
Immordino, Giovanni
Year of Publication: 
2000
Series/Report no.: 
Nota di Lavoro, Fondazione Eni Enrico Mattei 17. 2000
Abstract: 
If the precautionary principle must become the guide of the international community for environmental protection policies, an economic interpretation of the principle is in order. The analysis of case studies and a survey of the recent decision theoretic literature show on the one hand, the difficulty of applying the principle due to the vagueness of the law and, on the other, the lack of a completely satisfactory economic modelling. More generally various theoretic and empirical results demonstrate that the precautionary principle cannot be assumed to apply a priori. The precautionary principle, proposed by international treaties as a rule of thumb to be used in situations of scientific uncertainty, could indeed be inefficient.
Subjects: 
Precautionary Principle
self-protection
self-insurance
comparative statics
information structure
JEL: 
H0
O13
D8
Document Type: 
Working Paper

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