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The social cost of carbon with intragenerational inequality under economic uncertainty
Ploeg, Frederick van der; Emmerling, Johannes; Groom, … - 2022
A formula is derived for the social cost of carbon (SCC) that takes account of intragenerational income inequality and its evolution with economic growth. The social discount rate (SDR) should be adjusted to account for intragenerational and intergenerational inequality aversion and for risk...
Persistent link: https://www.econbiz.de/10013206181
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Sustainability and discounted utilitarianism in models of economic growth
Asheim, Geir B.; Mitra, Tapan - 2009
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...
Persistent link: https://www.econbiz.de/10003806718
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Sacrifice, discounting and climate policy : five questions
Karp, Larry S. - 2009
I offer a selective review of discounting and climate policy. Analytic and numerical models show that different assumptions greatly change the degree to which decisions about climate policy depend on the discount rate. I discuss a claim that standard models exaggerate the current generation's...
Persistent link: https://www.econbiz.de/10003872837
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Justifying social discounting : the rank-discounted utilitarian approach
Zuber, Stéphane; Asheim, Geir B. - 2010
The discounted utilitarian criterion for infinite horizon social choice has been criticized for treating generations unequally. We propose an extended rank-discounted utilitarian (ERDU) criterion instead. The criterion amounts to discounted utilitarianism on non-decreasing streams, but it treats...
Persistent link: https://www.econbiz.de/10008697034
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Combining rights and welfarism : a new approach to intertemporal evaluation of social alternatives
Long, Ngo Van; Martinet, Vincent - 2012
We propose a new criterion which reflects both the concern for welfare (utility) and the concern for rights in the evaluation of economic development paths. The concern for rights is captured by a pre-ordering over combinations of thresholds (floors or ceilings on various quantitative...
Persistent link: https://www.econbiz.de/10009503827
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Fair intergenerational utilitarianism : risk, its resolution over time, and discounting
Piacquadio, Paolo Giovanni - 2014
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/10010467848
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Climate policy under sustainable discounted utilitarianism
Dietz, Simon; Asheim, Geir B. - 2011
Empirical evaluation of policies to mitigate climate change has been largely confined to the application of discounted utilitarianism (DU). DU is controversial, both due to the conditions through which it is justified and due to its consequences for climate policies, where the discounting of...
Persistent link: https://www.econbiz.de/10009273914
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Cross-dynastic intergenerational altruism
Nesje, Frikk - 2022
I study whether saving behavior reveals socially relevant intertemporal preferences. To this end, I decompose the present generation’s preference for the next into its dynastic and cross-dynastic components in a model of saving. If people are concerned about the next generation as such, then...
Persistent link: https://www.econbiz.de/10013041365
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The malleability of undiscounted utilitarianism as a criterion of intergenerational justice
Asheim, Geir B.; Buchholz, Wolfgang - 2000
Undiscounted utilitarianism as a criterion of intergeneration justice has been questioned for different reasons: It has been argued (1) that any complete ordering of allocations with an infinite number of generations guaranteeing an optimal allocation must involve discounting, and (2) that...
Persistent link: https://www.econbiz.de/10009780201
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Philosophers and economists can agree on the intergenerational discount rate and climate policy paths
Nesje, Frikk; Drupp, Moritz A.; Freeman, Mark C.; … - 2022
predominantly been based on input from expert economists. It is not clear, however, that economists possess any special expertise on … the ethical issues that underpin long-term societal decision-making. This study compares expert economists' views on key … qualitative remarks shows areas of broad agreement and yet distinct differences in rationales. While economists provide numerous …
Persistent link: https://www.econbiz.de/10013365181