diverges, then we prove it is optimal for the extended Rawlsian to ignore the uncertainty concerning the possible disappearance … Ethical Observer (EO) who maximizes intertemporal welfare under this uncertainty, with expected-utility preferences. Various … social welfare criteria entail alternative von Neumann-Morgensternutility functionsfor the EO: utilitarian, Rawlsian, and an …

utilitarian program diverges, then we prove it is optimal for the extended Rawlsian to ignore the uncertainty concerning the … Ethical Observer (EO) who maximizes intertemporal welfare under this uncertainty, with expected-utility preferences. Various … social welfare criteria entail alternative von Neumann- Morgenstern utility functions for the EO: utilitarian, Rawlsian, and …

scientific uncertainty about the effects of increased greenhouse gas concentrations on climate. Criticisms of this controversial …

uncertainty about the effects of increased greenhouse gas concentrations on climate. Criticisms of this controversial result fall …

scientific uncertainty about the effects of increased greenhouse gas concentrations on climate. Criticisms of this controversial …

future utility when uncertainty increases over time. The more we know about the future welfare consequences of our (in …)actions, the more weight they receive. If uncertainty is endogenous to the decision process, the new rationale for discounting will …

future utility when uncertainty increases over time. The more we know about the future welfare consequences of our (in …)actions, the more weight they receive. If uncertainty is endogenous to the decision process, the new rationale for discounting will …

The paper analyzes the discount rate under uncertainty. The analysis complements the probabilistic characterization of … uncertainty by a measure of confidence. Special cases of the model comprise discounting under smooth ambiguity aversion as well as … general class of preferences for which uncertainty implies a reduction of the discount rate. It also characterizes how the …

. Viability theory is based on sustainability constraints to be satisfied over time, focusing on feasibility. We make a bridge …

This paper analyzes decisions on emissions of a stock pollutant under uncertainty in a two period model. Decisions are … based on a weighted average of expected utility (EU) and the MaxiMin criterion. I first show that more weight on the worst … not clear in general, but depends qualitatively on the weight given to MaxiMin: For the quadratic utility case …