Equity between overlapping generations
John Quiggin ()
No WPC08_1, Climate Change Working Papers from Risk and Sustainable Management Group, University of Queensland
This note is a demonstration that, in the presence of overlapping generations and under standard conditions for a social welfare ordering (Pareto optimality, transitivity, independence), the only ordering consistent with utilitarianism for all people currently alive at any given point in time is one based on weighting all people equally, regardless of their date of birth. In particular, this implies that, under reasonable conditions, the appropriate choice for the pure rate of social time preference is equal to zero.
Keywords: climate; change (search for similar items in EconPapers)
Date: 2008-06, Revised 2008-06
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Journal Article: Equity Between Overlapping Generations (2012)
Working Paper: Equity between overlapping generations (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:rsm:climte:c08_1
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