Learning and Irreversibility: An Econmic Interpretation of the "Precautionnary Principle"
AbstractWe consider the problem of the optimal use of a good whose consumption can produce damages in the future. Potential damages are proportional to the accumulated lifetimeconsumption of the good. Scientific progress is made over time that provides information on the distribution of the intensity of potential damages.
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Bibliographic InfoPaper provided by Toulouse - GREMAQ in its series Papers with number 97.470.
Length: 24 pages
Date of creation: 1997
Date of revision:
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RISK ; SAVINGS ; ENVIRONMENT;
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- Anastasios Xepapadeas, . "The Cost of Ambiguity and Robustness in International Pollution Control," DEOS Working Papers 1101, Athens University of Economics and Business.
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- Jouvet, P.-A., 1995. "Voluntary Contributions with Uncertainty: the Environmental Quality," G.R.E.Q.A.M. 97a30, Universite Aix-Marseille III.
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