Sustainability with Uncertain Future Preferences
A 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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Volume (Year): 33 (2006)
Issue (Month): 4 (04)
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- Chichilnisky, Graciela & Beltratti, Andrea & Heal, Geoffrey, 1998. "Uncertain future preferences and conservation," MPRA Paper 7912, University Library of Munich, Germany.
- Giovanni Andrea Cornia & Frances Stewart, 1993.
"Two Errors of Targeting,"
Innocenti Occasional Papers, Economic Policy Series
iopeps93/54, UNICEF Innocenti Research Centre.
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