Justifying the precautionary principle with expected net-welfare maximization

Project Portfolio Selection with the Maximization of Net Present Value

Projects scheduling by the project portfolio selection, something that has its own complexity and its flexibility, can create different composition of the project portfolio. An integer programming model is formulated for the project portfolio selection and scheduling.Two heuristic algorithms, genetic algorithm (GA) and simulated annealing (SA), are presented to solve the problem. Results of cal...

Implementing the precautionary principle.

The precautionary principle can be found in international treaties that protect human health and the environment from a variety of pollutants and perturbations. One of the earliest forms of the precautionary principle was used in the 1980s in Europe to protect the North Sea. In 1992, the Rio Declaration specifically included the precautionary principle in calling on nations to protect the envir...

Expanding the precautionary principle.

The Precautionary Principle Revisited:

The precautionary principle was included in 1992 in the Rio Declaration on Environmental and Development and is a part of important international agreements and documents, for example, the Convention on Biological Diversity. Yet the interpretation of this principle is not straightforward as a guide for environmental policy – a variety of interpretations are possible. This paper identifies and e...

The precautionary principle.

The Precautionary Principle in its simplest form states: "When an activity raises threats of harm to human health or the environment, precautionary measures should be taken even if some cause-and-effect relationships are not fully established scientifically". This Principle is the basis for European environmental law, and plays an increasing role in developing environmental health policies as w...