Learning and Irreversibility: An Econmic Interpretation of the "Precautionnary Principle"

Christian Gollier (), Bruno Jullien and Nicolas Treich

Working Papers from Toulouse - GREMAQ

Abstract: We consider the problem of the optimal use of a good whose consumption can produce damages in the future. Potential damages are proportional to the accumulated lifetimeconsumption of the good. Scientific progress is made over time that provides information on the distribution of the intensity of potential damages.

Keywords: RISK; SAVINGS; ENVIRONMENT (search for similar items in EconPapers)
JEL-codes: D81 D91 Q25 Q28 (search for similar items in EconPapers)
Pages: 24 pages
Date: 1997
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:fth:gremaq:97.470

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