Against the De Minimis Principle

Björn Lundgren and H. Orri Stefánsson

Risk Analysis, 2020, vol. 40, issue 5, 908-914

Abstract: According to the class of de minimis decision principles, risks can be ignored (or at least treated very differently from other risks) if the risk is sufficiently small. In this article, we argue that a de minimis threshold has no place in a normative theory of decision making, because the application of the principle will either recommend ignoring risks that should not be ignored (e.g., the sure death of a person) or it cannot be used by ordinary bounded and information‐constrained agents.

Date: 2020
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https://doi.org/10.1111/risa.13445

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Persistent link: https://EconPapers.repec.org/RePEc:wly:riskan:v:40:y:2020:i:5:p:908-914

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