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We describe a new approach to the problem of resolving distributional conflicts between an infinite and countable number of generations. We impose conditions on the social preferences that capture the following idea: If preference (or indifference) holds between truncated paths for infinitely...
Persistent link: https://www.econbiz.de/10005370861
Following Arrow et al. (2003), this paper considers green national accounting when population is changing and instantaneous well-being depends both on per capita consumption and population size. Welfare improvement is shown to be indicated by an expanded "genuine savings indicator", taking into...
Persistent link: https://www.econbiz.de/10005371081
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Persistent link: https://www.econbiz.de/10008624681
The mechanism design problem of a monopoly insurer - faced with privately informed insurees - is considered. It is assumed that the insurer cannot commit not to renegotiate (by using the information that customer separa-tion reveals) before contracts are put into force. A solution is offered by...
Persistent link: https://www.econbiz.de/10005371132