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utilitarianism (DU). DU is controversial, both due to the conditions through which it is justified and due to its consequences for … measures to justify their present costs. In this paper, we propose sustainable discounted utilitarianism (SDU) as an … alternative principle for evaluation of climate policy. Unlike undiscounted utilitarianism, which always assigns zero relative …
Persistent link: https://www.econbiz.de/10013315976
critiques to utilitarianism by satisfying the following three fairness axioms: possibility of trade-offs sets a limit to the …
Persistent link: https://www.econbiz.de/10012996204
The paper reexamines the welfare economics of intergenerational risk. Risk and its resolution over time are modeled as a decision tree: in each period, the consumption of the current one-period living generation is to be traded-off against uncertain benefits of future generations; as time...
Persistent link: https://www.econbiz.de/10013030316
out the space between critical-level utilitarianism and (a version of) critical-level leximin. Moreover, it satisfies many …
Persistent link: https://www.econbiz.de/10013099236
A fat and a healthy good provide immediate gratification, and cause health costs or benefits in the long run, which are misperceived. Additionally, the fat good (healthy good) increases (decreases) health care costs by increasing (decreasing) the probability of suffering from a chronic disease...
Persistent link: https://www.econbiz.de/10013013697
We propose and axiomatize probability adjusted rank-discounted critical-level generalized utilitarianism (PARDCLU). We … thus generalize rank-discounted utilitarianism (RDU) (proposed by Zuber and Asheim, 2012) to variable population and risky … other policy issues with long-run consequences. We illustrate how PARDCLU yields rank-dependent expected utilitarianism …
Persistent link: https://www.econbiz.de/10013315618
utilitarianism on non-decreasing streams, but it treats all generations impartially: discounting becomes the mere expression of …
Persistent link: https://www.econbiz.de/10013316152
Discounted utilitarianism treats generations unequally and leads to seemingly unappealing consequences in some models … of economic growth. Instead, this paper presents and applies sustainable discounted utilitarianism (SDU). SDU respects … the interests of future generations and resolves intergenerational conflicts by imposing on discounted utilitarianism that …
Persistent link: https://www.econbiz.de/10013316410
planner's von Neumann-Morgenstern preference. We start from Harsanyi's axiomatization of utilitarianism, and ask under which … Mertens used to axiomatize relative utilitarianism. We simplify the axioms, provide a much simpler and more transparent …
Persistent link: https://www.econbiz.de/10012947990
We impose a horizontal equity restriction on the problem of finding the optimal utilitarian tax mix. The horizontal equity constraint requires that individuals with the same ability have to pay the same amount of taxes regardless of their preferences for leisure. Contrary to normal findings, we...
Persistent link: https://www.econbiz.de/10005181477