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“The worth of a wildflower” Precautionary perspectives on the environmental risk of GMOs

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Author Info
Iulie Aslaksen and Anne Ingeborg Myhr () (Statistics Norway)
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 cost-benefit 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.

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Paper provided by Research Department of Statistics Norway in its series Discussion Papers with number 476.

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Date of creation: Sep 2006
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Handle: RePEc:ssb:dispap:476

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Related research
Keywords: cost-benefit analysis; environmental risk; environmental value; genetically modified organisms; precautionary principle; scientific uncertainty;

Find related papers by JEL classification:
D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General

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  4. Batie, Sandra S. & Ervin, David E., 2001. "Transgenic crops and the environment: missing markets and public roles," Environment and Development Economics, Cambridge University Press, vol. 6(04), pages 435-457, October. [Downloadable!]
  5. Dietmar Harhoff & Pierre Régibeau & Katharine Rockett, 2001. "Some simple economics of GM food," Economic Policy, CEPR, CES, MSH, vol. 16(33), pages 263-299, October. [Downloadable!] (restricted)
  6. Christie, Mike & Hanley, Nick & Warren, John & Murphy, Kevin & Wright, Robert & Hyde, Tony, 2006. "Valuing the diversity of biodiversity," Ecological Economics, Elsevier, vol. 58(2), pages 304-317, June. [Downloadable!] (restricted)
  7. Noussair, Charles & Robin, Stephane & Ruffieux, Bernard, 2002. "Do consumers not care about biotech foods or do they just not read the labels?," Economics Letters, Elsevier, vol. 75(1), pages 47-53, March. [Downloadable!] (restricted)
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  8. John O'Neill & Clive L. Spash, 2000. "Conceptions of Value in Environmental Decision-Making," Environmental Values, White Horse Press, vol. 9(4), pages 521-536, November. [Downloadable!] (restricted)
  9. Nyborg, Karine, 2000. "Homo Economicus and Homo Politicus: interpretation and aggregation of environmental values," Journal of Economic Behavior & Organization, Elsevier, vol. 42(3), pages 305-322, July. [Downloadable!] (restricted)
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