Generous Sustainability

Reyer Gerlagh

No 5092, CESifo Working Paper Series from CESifo

Abstract: I define “generous sustainability” as a combination of two conditions: neither instantaneous maximin income nor attainable maximin income should decrease over time. I provide a formal definition and study applications to an AK economy, a Ramsey economy, and a Climate Economy. Generosity is shown to impose substantially stronger conditions on current actions compared to existing sustainability concepts. As a rule of thumb, generosity requires that GHG emissions are limited to levels that do not cause irreversible system damages if some group of people systematically value these systems.

Keywords: intertemporal choice and growth; intergenerational distribution; sustainable development. (search for similar items in EconPapers)
JEL-codes: D63 D90 Q01 (search for similar items in EconPapers)
Date: 2014
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Journal Article: Generous Sustainability (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_5092

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