Pricing option value masks the ethical nature of grave collective choices

Evidence

To precautionary principle adherents, such an exercise invites exclusionary, technocratic decision making in the face of grave, uncertain collective choices, precisely the context that they believe instead requires inclusiveness, transparency, and candid ac know ledg ment that ethical choices are being undertaken. — Douglas A. Kysar, Regulating from Nowhere, 249

Categorization

• recurring: this claim recurs 2 times within its source
• XREF: connects to: Cost-benefit analysis’s appearance of rationality masks its insensitivity to systemic, long-term context — Douglas A. Kysar, Regulating from Nowhere: Environmental…, 16; Sacred values resist cost-benefit correction unlike ordinary preferences — Scott Atran, The Devoted Actor: Unconditional…, 4; Pricing statistical lives obscures harms that are real only at the collective scale — Douglas A. Kysar, Regulating from Nowhere: Environmental…, 301 (+4 more)

Broader Connections

• Pricing statistical lives obscures harms that are real only at the collective scale #exemplifies (0.85) — Douglas A. Kysar, Regulating from Nowhere, 301
• Sacred values resist cost-benefit correction unlike ordinary preferences #qualifies (0.78) — Scott Atran, The Devoted Actor, 4
• Defending sacred values defies material cost-benefit prediction across decision contexts. #corroborates (0.75) — Scott Atran, The Devoted Actor, 22
• Option pricing theory did not describe markets but remade them in its own image #expands (0.75) — Donald MacKenzie & Yuval Millo, Constructing a Market, Performing Theory, 182
• The option pricing approach extended to valuing securities that only resembled options #expands (0.72) — Donald MacKenzie, An Engine, Not a Camera, 142