Precaution: principles and practice in Australian environmental and natural resource management

Deborah C. Peterson

No 137764, 2006 Conference (50th), February 8-10, 2006, Sydney, Australia from Australian Agricultural and Resource Economics Society

Abstract: Since the late 1980s, the concept of precaution has been incorporated into numerous international agreements and laws, as well as in domestic statutes and policies in many countries. This paper examines the international emergence of the concept and its application in Australia. Despite rapid growth in adoption of the so-called ‘precautionary principle’, the concept remains highly controversial, and its success in terms of improving environmental and natural resource management has been questioned. This paper argues that implementation guidelines are essential to ensure that precautionary decision making is consistent with good decision making principles, and to avoid unnecessary costs and the potential for perverse outcomes. Economists have an important role in contributing to these guidelines and in developing techniques for incorporating uncertainty into decision making.

Keywords: Environmental; Economics; and; Policy (search for similar items in EconPapers)
Pages: 34
Date: 2006-02
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aare06:137764

DOI: 10.22004/ag.econ.137764

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