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1. Les approches économiques de la précaution: présentation et discussion critique.

Author

Gollier, Christian and Treich, Nicolas

Abstract

The precautionary principle is well known nowadays. But does it have an economic foundation? We present two theories of precaution. The first is based on the standard model of expected utility with a Bayesian belief revision. The second is based on ambiguity aversion. We discuss the advantages as well as the weaknesses of these two approaches. [ABSTRACT FROM AUTHOR]

Published
2014
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