ABSTRACT
So far, this document has looked at the economic rationale, issues and tools that apply to the precautionary principle. They present a useful, but perhaps bewildering, array of concerns and options. What, then, are the essential elements and best practices when we apply an economic approach to the precautionary principle? How do we maximize its positive impacts, minimize or offset its negative impacts, increase the likelihood of success and work within the confines of risk and uncertainty?
