Intergenerational Equity

Posted: 18 Oct 2010

See all articles by Geir B. Asheim

Geir B. Asheim

University of Oslo - Department of Economics; CESifo (Center for Economic Studies and Ifo Institute)

Date Written: February 2010

Abstract

Axiomatic analysis of intergenerational social preferences over infinite streams of well-being faces the following dilemma. Equal treatment of generations combined with sensitivity for the interests of each generation rules out explicitly defined preferences that can rank any pair of infinite well-being streams. Hence, either intergenerational social preferences must be incomplete or equal treatment and sensitivity must be compromised. This critical review of axiomatic analyses of preferences over infinite streams evaluates different kinds of intergenerational social preferences by comparing their axiomatic basis as well as their performance in simple present-future conflicts. The scope for application is discussed, using real-world intergenerational conflicts (such as global warming) as a backdrop.

Suggested Citation

Asheim, Geir B., Intergenerational Equity (February 2010). Annual Review of Economics, Vol. 2, pp. 197-222, 2010, Available at SSRN: https://ssrn.com/abstract=1693050 or http://dx.doi.org/10.1146/annurev.economics.102308.124440

Geir B. Asheim (Contact Author)

University of Oslo - Department of Economics ( email )

P.O. Box 1095 Blindern
N-0317 Oslo
Norway
+47-2285 5498 (Phone)
+47-2285 5035 (Fax)

CESifo (Center for Economic Studies and Ifo Institute)

Poschinger Str. 5
Munich, DE-81679
Germany

HOME PAGE: http://www.CESifo.de

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