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 InfoPaper provided by University of Queensland, School of Economics in its series Risk and Sustainable Management Group Working Papers with number 152091.
Date of creation: Jun 2008
Date of revision:
climate change; Environmental Economics and Policy; Resource /Energy Economics and Policy; Q54; Q00;
Other versions of this item:
- 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
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- R. Mehra & E. Prescott, 2010.
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- repec:lsg:lsgwps:wp84 is not listed on IDEAS
- Nicholas Stern, 2013. "Ethics, equity and the economics of climate change. Paper 2: Economics and Politics," Grantham Research Institute on Climate Change and the Environment Working Papers 84b, 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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