Sustainability with Uncertain Future Preferences
AbstractA feature of the sustainability problem is that the preferences of future generations are uncertain. In this paper, we put forward a fairness-based definition of sustainability that takes this uncertainty into account. We analyze the implications of this definition in the context of a model of project evaluation. We show that our definition encompasses the concepts of non-declining welfare and of weak and strong sustainability. Furthermore, we show that preference uncertainty has a substantial influence on the implications of sustainability. Copyright Springer 2006
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Bibliographic InfoArticle provided by European Association of Environmental and Resource Economists in its journal Environmental & Resource Economics.
Volume (Year): 33 (2006)
Issue (Month): 4 (04)
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Web page: http://www.springerlink.com/link.asp?id=100263
intergenerational justice; project evaluation; substitution possibilities; sustainability; uncertainty; Q56; Q20; D81; D63; D99;
Find related papers by JEL classification:
- Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
- Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- D99 - Microeconomics - - Intertemporal Choice - - - Other
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