Scientific progress and irreversibility: an economic interpretation of the 'Precautionary Principle'¶
Gollier, C., Jullien, & Treich, N. (2000). Scientific progress and irreversibility: an economic interpretation of the 'Precautionary Principle'. Journal of Public Economics, 75(2), 229-253.
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Primes¶
- Reversibility Horizon
- If uncertainty is about whether the reversible path will even work, commitment is safer—a tension Gollier, Jullien, and Treich (2000) formalize in their economic interpretation of the precautionary principle under irreversibility and learning.
This sourceFormalizes the interaction between irreversibility, uncertainty, and learning; identifies conditions under which uncertainty widens versus narrows the rational reversibility horizon.
- If uncertainty is about whether the reversible path will even work, commitment is safer—a tension Gollier, Jullien, and Treich (2000) formalize in their economic interpretation of the precautionary principle under irreversibility and learning.
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