Precaution and Rationality

Abstract

The analysis undertaken in the foregoing chapter made clear that one area of particular interest in relation to the various dimensions of precaution is the field of decision theorydecision theory. In this field, concepts of central importance for the requirement of precautionrequirement of precaution such as risk, probability and value – as well as ideas regarding the determination of magnitudes of these parameters – are the subject of sophisticated theorising. More importantly, however, in this field, these concepts are used for explicit normative inquiries regarding the rationality of actions and decisions. And, as we will see, ideas regarding this have been used as arguments in favour of precautionary suggestions. Therefore, it is of interest to investigate to what extent they may be taken as a point of departure in our quest for a normative basis of precaution.