Abstract:How much is a wildflower worth? Inspired by "The worth of a songbird" by Funtowicz and Ravetz (1994) we use the value of a wildflower as symbol of the complexity of evaluating environmental qualities and risks. We critically discuss the application of cost-benefit analysis in evaluating environmental impacts of adoption of genetically modified organisms (GMOs). We argue that costbenefit analysis should be supplemented with other methods, such as processes for assessing uncertainty, accommodation of scientific disagreements, and integration of stakeholders' interests and perspectives. A more inclusive perspective is to develop precautionary approaches that recognize the multidimensional nature of environmental qualities and risks, such as irreplaceability, irreversibility, uncertainty and complexity. Precautionary approaches can contribute to develop a stronger environmental responsibility within the framework of rational self-interest.Keywords: cost-benefit analysis, environmental risk, environmental value, genetically modified organisms, precautionary principle, scientific uncertainty.
JEL classification: D81, Q20, Q50Acknowledgement: This paper grew out of a bioethical nature walk, several days across the Hardangervidda national park in Norway, while discussing ethical and philosophical questions about quality in nature and technology, and environmental risk, with Robert Pirsig's book, "Zen and the art of motorcycle maintenance" as a point of reference for discussing quality. We would like to thank Silvio Funtowicz, Kamilla Kjølberg and Roger Strand, as well as all the participants, for providing this unique opportunity to reflect on our own relationship to nature and how our perception of quality is influenced by being in nature, walking in pristine wilderness, and relying on each other. We would also like to thank Mads Greaker for encouragement to write this paper, without implicating him even slightly in what is written here, and we would like to thank Anne Skoglund for excellent word processing and editing.