Risk Avoidance: All or Nothing

Mark Jablonowski

Chapter 3 in Risk Dilemmas, 2007, pp 36-55 from Palgrave Macmillan

Abstract: Abstract Minimax based on suitable risk thresholds is a strong preventative against catastrophic risk. To that, we add an environment under which outcomes are known only very imperfectly. This strong prescription based on wide potential application increases the chances that our goals, values, and actions will in someway conflict. So, in order to achieve an adequate degree of power against risk, we make our risk criteria more prone to risk dilemmas. Risk dilemmas therefore follow from the “all or nothing” character of precaution: Partial solutions don’t properly deal with the catastrophe problem (“in the long run, there is no long run”).

Keywords: Risk Acceptance; Risk Threshold; Subsistence Level; Precautionary Approach; Natural Risk (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28859-1_3

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DOI: 10.1057/9780230288591_3

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