Neglected Features of the Safe Minimum Standard: Socio-economics and Institutional Dimensions
Important features of the safe minimum standard (SMS) rule as outlined by Ciriacy-Wantrup are ignored in the recent literature, e.g., the critical zone, institutional and normative dimensions, and the relationship between economic and biological irreversibility. Also, seeing SMS as an adjunct to social cost-benefit analysis is inconsistent with the original concept. Since SMS is usually applied to collective commodities, consideration of normative and institutional factors is inescapable. Hence, 'unacceptably large' social costs cannot be made operational by traditional social cost-benefit analysis. Close relatives of SMS such as discontinuous objective functions, the precautionary principle and reversal of proof are also discussed, as well as the determination of SMS by social discourse
|Date of creation:||Mar 2000|
|Contact details of provider:|| Postal: St. Lucia, Qld. 4072|
Phone: +61 7 3365 6570
Fax: +61 7 3365 7299
Web page: http://www.uq.edu.au/economics/index.html
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- S. V. Ciriacy-Wantrup, 1961. "Water Quality, A Problem for the Economist," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 43(5), pages 1133-1144.
- Sagoff, M., 1998. "Aggregation and deliberation in valuing environmental public goods:: A look beyond contingent pricing," Ecological Economics, Elsevier, vol. 24(2-3), pages 213-230, February.
- Robert P. Berrens & David S. Brookshire & Michael McKee & Christian Schmidt, 1998. "Implementing the Safe Minimum Standard Approach: Two Case Studies from the U.S. Endangered Species Act," Land Economics, University of Wisconsin Press, vol. 74(2), pages 147-161.
- Palmini, Dennis, 1999. "Uncertainty, risk aversion, and the game theoretic foundations of the safe minimum standard: a reassessment," Ecological Economics, Elsevier, vol. 29(3), pages 463-472, June.
- Tisdell, Clem, 1970. "Implications of Learning for Economic Planning," Economic Change and Restructuring, Springer, vol. 10(3), pages 177-192.
- O'Hara, Sabine U., 1996. "Discursive ethics in ecosystems valuation and environmental policy," Ecological Economics, Elsevier, vol. 16(2), pages 95-107, February.
- Bryan G. Norton & Michael A. Toman, 1997. "Sustainability: Ecological and Economic Perspectives," Land Economics, University of Wisconsin Press, vol. 73(4), pages 553-568.
- Tisdell, Clem, 1990. "Economics and the debate about preservation of species, crop varieties and genetic diversity," Ecological Economics, Elsevier, vol. 2(1), pages 77-90, April.
- Crowards, Tom M., 1998. "Safe Minimum Standards: costs and opportunities," Ecological Economics, Elsevier, vol. 25(3), pages 303-314, June.
- Rolfe, John, 1995. "Ulysses Revisited - A Closer Look At The Safe Minimum Standard Rule," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 39(01), April.
- Charles Perrings & David Pearce, 1994. "Threshold effects and incentives for the conservation of biodiversity," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 4(1), pages 13-28, February.
- M. M. Kelso, 1977. "Natural Resource Economics: The Upsetting Discipline," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 59(5), pages 814-823.
- Daly, Herman E., 1992. "Allocation, distribution, and scale: towards an economics that is efficient, just, and sustainable," Ecological Economics, Elsevier, vol. 6(3), pages 185-193, December.
- S. V. Ciriacy-Wantrup, 1955. "Benefit-Cost Analysis and Public Resource Development," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 37(4), pages 676-689.
- Michael C. Farmer & Alan Randall, 1998. "The Rationality of a Safe Minimum Standard," Land Economics, University of Wisconsin Press, vol. 74(3), pages 287-302.
When requesting a correction, please mention this item's handle: RePEc:ags:uqseee:48000. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.