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Be Cautious with the Precautionary Principle: Evidence from Fukushima Daiichi Nuclear Accident

Author

Listed:
  • Neidell, Matthew

    (Columbia University)

  • Uchida, Shinsuke

    (Nagoya City University)

  • Veronesi, Marcella

    (University of Verona)

Abstract

This paper provides a large scale, empirical evaluation of unintended effects from invoking the precautionary principle after the Fukushima Daiichi nuclear accident. After the accident, all nuclear power stations ceased operation and nuclear power was replaced by fossil fuels, causing an exogenous increase in electricity prices. This increase led to a reduction in energy consumption, which caused an increase in mortality during very cold temperatures. We estimate that the increase in mortality from higher electricity prices outnumbers the mortality from the accident itself, suggesting the decision to cease nuclear production has contributed to more deaths than the accident itself.

Suggested Citation

  • Neidell, Matthew & Uchida, Shinsuke & Veronesi, Marcella, 2019. "Be Cautious with the Precautionary Principle: Evidence from Fukushima Daiichi Nuclear Accident," IZA Discussion Papers 12687, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp12687
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    References listed on IDEAS

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    Cited by:

    1. Rüdiger Bachmann & David Baqaee & Christian Bayer & Moritz Kuhn & Andreas Löschel & Benjamin Moll & Andreas Peichl & Karen Pittel & Moritz Schularick, 2022. "What if? The economic effects for Germany of a stop of energy imports from Russia," SciencePo Working papers Main hal-03881469, HAL.
    2. Katarzyna Zagórska & Mikołaj Czajkowski & Nick Hanley, 2022. "“GMO – Doesn’t Have To Go!” – Consumers’ Preferences Towards Genetically Modified Products Labelling and Sale," Working Papers 2022-07, Faculty of Economic Sciences, University of Warsaw.
    3. Jayachandran, Seema & Chirakijja, Janjala & Ong, Pinchuan, 2019. "Inexpensive Heating Reduces Winter Mortality," CEPR Discussion Papers 13603, C.E.P.R. Discussion Papers.

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    More about this item

    Keywords

    electricity; nuclear energy; precuationary principle; mortality;
    All these keywords.

    JEL classification:

    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • K32 - Law and Economics - - Other Substantive Areas of Law - - - Energy, Environmental, Health, and Safety Law
    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices

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