Compensating the dead

Marc Fleurbaey, Marie-Louise Leroux and Gregory Ponthiere

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Abstract: An early death is, undoubtedly, a serious disadvantage. However, the compensation of short-lived individuals has remained so far largely unexplored, probably because it appears infeasible. Indeed, short-lived agents can hardly be identified ex ante, and cannot be compensated ex post. We argue that, despite those difficulties, a compensation can be carried out by encouraging early consumption in the life cycle. In a model with heterogeneous preferences and longevities, we show how a specific social criterion can be derived from intuitive principles, and we study the corresponding optimal policy under various informational assumptions.

Keywords: Compensation; Longevity; Mortality; Fairness; Redistribution (search for similar items in EconPapers)
Date: 2014-03
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Citations: View citations in EconPapers (54)

Published in Journal of Mathematical Economics, 2014, 51, pp.28-41. ⟨10.1016/j.jmateco.2014.02.003⟩

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Journal Article: Compensating the dead (2014)
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Working Paper: Compensating the dead (2014)
Working Paper: Compensating The Dead (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-01053598

DOI: 10.1016/j.jmateco.2014.02.003

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