Equity Between Overlapping Generations
AbstractThis note is a demonstration that, in the presence of overlapping generations and under standard conditions for a social welfare ordering (Pareto optimality, transitivity, independence), the only ordering consistent with utilitarianism for all people currently alive at any given point in time is one based on weighting all people equally, regardless of their date of birth. In particular, this implies that, under reasonable conditions, the appropriate choice for the pure rate of social time preference is equal to zero.
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Bibliographic InfoArticle provided by Association for Public Economic Theory in its journal Journal of Public Economic Theory.
Volume (Year): 14 (2012)
Issue (Month): 2 (03)
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Other versions of this item:
- John Quiggin, 2008. "Equity between overlapping generations," Climate Change Working Papers WPC08_1, Risk and Sustainable Management Group, University of Queensland, revised Jun 2008.
- Quiggin, John, 2008. "Equity between overlapping generations," Risk and Sustainable Management Group Working Papers 152091, University of Queensland, School of Economics.
- Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters
- Q00 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - General
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"The equity premium: a puzzle,"
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- Nicholas Stern, 2012. "Ethics, equity and the economics of climate change," Grantham Research Institute on Climate Change and the Environment Working Papers 84, Grantham Research Institute on Climate Change and the Environment.
- Quiggin, John, 2011.
"Stabilizing the global climate: A simple and robust benefit cost analysis,"
Risk and Sustainable Management Group Working Papers
152097, University of Queensland, School of Economics.
- John Quiggin, 2012. "Stabilizing the Global Climate: A Simple and Robust Benefit-Cost Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 94(2), pages 291-300.
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