Intergenerational Fairness

Marc Fleurbaey

Chapter 10 in Intergenerational Equity and Sustainability, 2007, pp 155-175 from Palgrave Macmillan

Abstract: Abstract This chapter studies the construction of a criterion for the ethical evaluation of allocations in an overlapping generations model. Each generation is composed of individuals who live two periods and may have heterogeneous intertemporal preferences. Their preferences are self-centred and are supposed to be a correct embodiment of their true personal interests. As a consequence, the criterion is required to satisfy the Pareto criterion. In addition, two basic fairness requirements are imposed on the criterion. The first result is then that the asymmetric part (strict preference) of the criterion must apply the infimum criterion (a variant of the maximin criterion suitable for infinite populations) to a particular money-metric utility representation of individual preferences. The choice of this particular utility measure is a consequence of the fairness requirements.

Keywords: Social Choice; Indifference Curve; Pareto Principle; Asymmetric Part; Infinite Population (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1057/9780230236769_10

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