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 Risk and Sustainable Management Group, University of Queensland in its series Climate Change Working Papers with number WPC08_1.
Date of creation: Jun 2008
Date of revision: Jun 2008
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Other versions of this item:
- 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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- repec:lsg:lsgwps:wp84 is not listed on IDEAS
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