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...

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...

Asking the right question can be as important as giving the right answer. In her book Judging Civil Justice, Dame Hazel Genn forcefully argues that the right question about the civil justice system is not “how much justice we can afford” but “how much justice can we afford to forego.”...