Uncertainty aversion in Australian regulation of agricultural gene technology

Emily M. Gray and Fredoun Z. Ahmadi-Esfahani

No 6045, 2008 Conference (52nd), February 5-8, 2008, Canberra, Australia from Australian Agricultural and Resource Economics Society

Abstract: There is potential for over-provision of environmental harms and under-provision of environmental benefits associated with GM crops. As a result, strong public regulation is needed to ensure that full social values are considered. However, one reason for opposition to GM crops is a lack of public trust in regulatory institutions and science, and the limited opportunities afforded to public-participation and nonscientific concerns. We aim to demonstrate the trade-off between social cost and managing the risks of gene flow arising from environmental release of GM canola in Australia, using the framework of a probabilistic risk assessment and safety-rule decision mechanism.

Keywords: Crop Production/Industries; Institutional and Behavioral Economics; Research and Development/Tech Change/Emerging Technologies; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 19
Date: 2008
New Economics Papers: this item is included in nep-agr and nep-reg
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aare08:6045

DOI: 10.22004/ag.econ.6045

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