The precautionary principle. Between social norms and economic constructs

Olivier Godard

Working Papers from HAL

Abstract: This paper matches interpretations of the precautionary principle coming from two horizons: economic theory of risk framed in a Bayesian framework, and social heuristic concepts validated by public European and domestic institutions. Although they share some common features, it is shown that concepts and scopes differ a lot. In spite of this difference, analytical economics provide useful insights on key controversial questions for the implementation of this principle as a social norm. Examples concern the reversibility of precautionary measures, the issue of direct application to all individual agents versus reserved application to public bodies, and the burden of bringing appropriate scientific inputs.

Date: 2005
Note: View the original document on HAL open archive server: https://hal.science/hal-00243008
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