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...

Based on the Ramsey equation and an ethically motivated rejection of pure utility time discount, the Stern Review on the Economics of Climate Change concentrates on the use of the elasticity of marginal utility ç in the intergenerational social welfare function. We support this position by...

We show by a simple example that in a public goods economy consisting of identical individuals with symmetric Cobb-Douglas preferences the core of the economy does not con-verge to the Lindahl solution when the number of agents goes to infinity. This confirms in an elementary way that the...

We consider transfers in a Stackelberg game of private provision of a public good. It turns out that the agent who is the follower in the process of making voluntary contributions to a public good may have an incentive to make monetary transfers to the Stackelberg leader even in a situation...

In the Dasgupta-Heal-Solow-Stiglitz model of capital accumulation and resource depletion we show the following equivalence: If an efficient path has constant (gross and net of population growth) savings rates, then population growth must be quasi-arithmetic and the path is a maximin or a...

We show that our general result (Withagen and Asheim [8]) on the converse of Hartwick’s rule also applies for the special case of Solow’s model with one capital good and one exhaustible resource. Hence, the criticism by Cairns and Yang [1] of our paper is unfounded.

The results of Sandler and Posnett (1991) are generalized using a simple representation of conjectural variations.

We show by a simple example that in a public goods economy consisting of identical individuals with symmetric Cobb-Douglas preferences the core of the economy does not con-verge to the Lindahl solution when the number of agents goes to infinity. This confirms in an elementary way that the...