Human-generated greenhouse gas emissions imperil a global resource: a biosphere capable of supporting life as we know it. What is the fair way to share this scarce resource across present and future generations and across regions of the world? This study offers a new perspective based on the...

The fall of Communism, the reassessment of Nordic social democracy, belt-tightening in other advanced welfare states, and the worldwide privatization wave have led many to conclude that egalitarianism is a merely utopian ideal, the possibility of whose realization is laid to rest by the failure...

Let there be a positive (exogenous) probability that, at each date, the human species will disappear. We postulate an Ethical Observer (EO) who maximizes intertemporal welfare under this uncertainty, with expected-utility preferences. Various social welfare criteria entail alternative von...

This timely Handbook reviews many key issues in the economics of energy and climate change, raising new questions and offering solutions that might help to minimize the threat of energy-induced climate change.

Climate science indicates that climate stabilization requires low GHG emissions. Is this consistent with nondecreasing human welfare?

Quasilinear preferences on a public good and a numeraire good are limits of preferences where both goods are normal. The set of equilibria of the voluntary contribution (or private provision) game is easily characterized under quasilinearity by: top valuators aggregately contribute their common...