Will of the living dead — The case for a backward-looking welfare function

Lassi Ahlvik

Economics Letters, 2022, vol. 214, issue C

Abstract: Many people have preferences over choices taking place after their lifetime. I show that a backward-looking welfare function, keeping preferences of the dead alive, is Pareto-improving and can be sustained as a subgame-perfect equilibrium of the intergenerational game.

Keywords: Backward-looking welfare function; Repeated game; Intertemporal social choice (search for similar items in EconPapers)
JEL-codes: C73 D01 D64 D71 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:214:y:2022:i:c:s0165176522000817

DOI: 10.1016/j.econlet.2022.110418

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