The ethics of intergenerational risk

• 成果类型: Article
• 署名作者: Piacquadio, Paolo G.
• 署名单位: University of Oslo
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2020.104999
• 发表日期: 2020
• 关键词: Intergenerational justice; Gradual resolution of risk; Welfare criteria; discounting

摘要

This paper addresses the evaluation of intergenerational allocations in an uncertain world. It axiomatically characterizes a class of criteria, named reference-dependent utilitarian, that assess allocations relative to a stochastic reference. The characterized criteria combine social concerns for ex-ante equity capturing the idea that generations should be treated equitably before risk is resolved and for ex-post fairness capturing the idea that generations should be treated equitably after risk is resolved. Social discounting is endogenous and is governed by two opposite forces: extinction risk pushes society to reduce the weight on future generations, while (uninsurable) technological risk pushes society to increase the weight on future generations. (C) 2020 The Author. Published by Elsevier Inc.