We Already Have Risk Management — Do We Really Need the Precautionary Principle?

Randall, Alan

doi:10.1561/101.00000022

Cited by 20 publications

(9 citation statements)

References 60 publications

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“…Situations concerning the true sort of uncertainty generated simply by the fact that human beings live in a complex world that generates an unknown future receive less attention. Yet unforeseen events -e.g., new inventions, bursting asset bubbles, or negative environmental consequences -regularly surprise us, and can be of very large economic consequence (Randall, 2009;Taleb, 2010). It may be argued that lottery experiments have the advantage of being more amenable to study, but if a focus on tractability drives economists to only 'look under the lamppost' in studying risks, any generalization to larger scale real-world concerns should be considered epistemologically suspect.…”

Section: (5) Examination Of a Narrow Range Of Risksmentioning

confidence: 99%

The power of stereotyping and confirmation bias to overwhelm accurate assessment: the case of economics, gender, and risk aversion

Nelson

2014

Journal of Economic Methodology

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Behavioral research has revealed how normal human cognitive processes can tend to lead us astray. But do these affect economic researchers, ourselves? This article explores the consequences of stereotyping and confirmation bias using a sample of published articles from the economics literature on gender and risk aversion. The results demonstrate that the supposedly 'robust' claim that 'women are more risk averse than men' is far less empirically supported than has been claimed. The questions of how these cognitive biases arise and why they have such power are discussed, and methodological practices that may help to attenuate these biases are outlined.

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Section: (5) Examination Of a Narrow Range Of Risksmentioning

confidence: 99%

The power of stereotyping and confirmation bias to overwhelm accurate assessment: the case of economics, gender, and risk aversion

Nelson

2014

Journal of Economic Methodology

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“…Factores económicos, políticos, sociais e culturais e a complexidade dos interesses em presença têm condicionado a extensão da atenção dada, em diferentes países, a estratégias de precaução pela legislação e pelas instituições (Randall, 2009;Wiener et al, 2011;Lofstedt, 2014) 2 .…”

Section: Conceito E Principais Elementosunclassified

Avaliação e gestão dos riscos não comprovados: estudo de casos da aplicação do princípio da precaução em Portugal

Gonçalves¹

2017

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“…An article by Randall (2009) provides a useful model as to the interpretation of the two guidelines cited above. It recognises that there are (1) threats that have massive (disproportionate) and irreversible (asymmetric) consequences, and (2) threats of lesser consequences where the risk-weighted consequences in the missing addendum above ought to be evaluated and used to shape the decision.…”

Section: Biodiversity Risks and The Precautionary Principlementioning

confidence: 99%

Assessing sustainability in certification schemes

Ferguson

2013

Australian Forestry

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This paper aims to provide guidance as to how better to assess sustainability in certification schemes, such as the Australian Forestry Standard, and to provide suggestions for related changes to certification guidelines.The meaning of sustainability in relation to forestry and the principles underpinning sustainability and the calculation of sustained yield are examined to see how best they can be assessed in certification schemes, given the complexities of temporal and spatial change. To be useful in certification, such principles need to be capable of translation into auditable features, be they qualitative or quantitative. They also need to recognise the realities of demand and supply movements, landscape change, natural disasters, technological change and risk management. Forestry Tasmania's sustainable yield planning provides a case study that illuminates some of these issues, including the associated process of risk management.The sustainability of jointly supplied environmental goods and services (e.g. wood and biodiversity) is more difficult to assess but also needs to be capable of audit-often involving, among other things, spatial assessment of conditions such as species diversity, fragmentation and connectedness and application of the precautionary principle.

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We Already Have Risk Management — Do We Really Need the Precautionary Principle?

Cited by 20 publications

References 60 publications

The power of stereotyping and confirmation bias to overwhelm accurate assessment: the case of economics, gender, and risk aversion

The power of stereotyping and confirmation bias to overwhelm accurate assessment: the case of economics, gender, and risk aversion

Avaliação e gestão dos riscos não comprovados: estudo de casos da aplicação do princípio da precaução em Portugal

Assessing sustainability in certification schemes

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