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Intergenerational Fairness

In: Intergenerational Equity and Sustainability

Author

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  • Marc Fleurbaey

Abstract

This chapter studies the construction of a criterion for the ethical evaluation of allocations in an overlapping generations model. Each generation is composed of individuals who live two periods and may have heterogeneous intertemporal preferences. Their preferences are self-centred and are supposed to be a correct embodiment of their true personal interests. As a consequence, the criterion is required to satisfy the Pareto criterion. In addition, two basic fairness requirements are imposed on the criterion. The first result is then that the asymmetric part (strict preference) of the criterion must apply the infimum criterion (a variant of the maximin criterion suitable for infinite populations) to a particular money-metric utility representation of individual preferences. The choice of this particular utility measure is a consequence of the fairness requirements.

Suggested Citation

  • Marc Fleurbaey, 2007. "Intergenerational Fairness," International Economic Association Series, in: John Roemer & Kotaro Suzumura (ed.), Intergenerational Equity and Sustainability, chapter 10, pages 155-175, Palgrave Macmillan.
  • Handle: RePEc:pal:intecp:978-0-230-23676-9_10
    DOI: 10.1057/9780230236769_10
    as

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