Bounded Awareness, Heuristics and the Precautionary Principle

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.


Issue Date:
Apr 15 2012
Publication Type:
Working or Discussion Paper
PURL Identifier:
http://purl.umn.edu/151203
Total Pages:
30
JEL Codes:
D80; D82
Series Statement:
Risk and Uncertainty Program
R12/4




 Record created 2017-04-01, last modified 2017-08-27

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