 Intergenerational Equity, Efficiency, and ConstructibilityA chapter in The Economics of the Global Environment, 2016, pp 191-206 from Springer Abstract: Abstract Global environmental issues—like biodiversity conservation or climate change—are in reality long term issues that are not properly taken into account with traditional models that incorporate the impatience axiom manifested in fixed discount factors and in the use of present discounted utility criteria. When both the short and the very long run are important, one can appeal to overtaking criteria and Chichilnisky criteria. Unfortunately, overtaking criteria are highly incomplete. In order to decrease this incompleteness, stronger anonymity (or equity) axioms were developed. I show that a maximal anonymity axiom compatible with Pareto is a non-constructible object; its existence relies on the Axiom of Choice. The Chichilnisky criterion is based upon two axioms: non dictatorship of the present and non dictatorship of the future. Here, the very long run is captured by a finitely additive measure. Such a measure is a non-constructible object and has therefore no explicit description. Keywords: Intergenerational justice; Sustainability; Chichilnisky’s criterion; overtaking; Axiom of Choice (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:steccp:978-3-319-31943-8_10 Ordering information: This item can be ordered from DOI: 10.1007/978-3-319-31943-8_10 Access Statistics for this chapter More chapters in Studies in Economic Theory from Springer |
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