Incertitude scientifique et décision publique: le recours au Principe de Précaution

Tania Bouglet, Thomas Lanzi () and Jean-Christophe Vergnaud
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Tania Bouglet: GEM - Groupe d'économie mondiale - Sciences Po - Sciences Po
Thomas Lanzi: ESC Lille - School of management - Ecole Supérieure de Commerce de Lille

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Abstract: In this paper, we formalize two criteria of decisions which try to convey two different interpretations of the Precautionary principle. The first criterion corresponds to the maximization of the minimum of the expected utility whereas the second criterion corresponds to the minimization of the maximum of the regret expectation. We apply those two criteria in an economic problem where uncertainty is assessed by a family of probabilities. We show that there is a distance of probabilities for which the choices induced by the two criteria are different. Especially, we show that in this case, the second criterion always induces the more cautious decision contrary to the first criterion, decisions are the same elsewhere.

Keywords: public decision; precautionary; décision publique; information; précaution (search for similar items in EconPapers)
Date: 2006
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00150931
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Published in Recherches Economiques de Louvain - Louvain economic review, 2006, 72 (2), pp.109-127

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Related works:
Journal Article: Incertitude scientifique et décision publique: le recours au Principe de pré-caution (2006)
Working Paper: Incertitude scientifique et décision publique: le recours au Principe de précaution (2006)
Working Paper: Incertitude scientifique et décision publique: le recours au Principe de Précaution (2006)
Working Paper: Incertitude scientifique et décision publique: le recours au Principe de Précaution (2006)
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