Probability Adjusted Rank-Discounted Utilitarianism

31 Pages Posted: 25 Apr 2014

See all articles by Geir B. Asheim

Geir B. Asheim

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

Stephane Zuber

Ecole Normale Superieure (ENS)

Date Written: March 24, 2014

Abstract

We propose and axiomatize probability adjusted rank-discounted critical-level generalized utilitarianism (PARDCLU). We thus generalize rank-discounted utilitarianism (RDU) (proposed by Zuber and Asheim, 2012) to variable population and risky situations and thereby take important steps towards preparing RDU for practical use, e.g. for evaluation of climate policies and other policy issues with long-run consequences. We illustrate how PARDCLU yields rank-dependent expected utilitarianism - but with additional structure - in a special case, and show how PARDCLU can handle a situation with positive probability of human extinction.

Keywords: social evaluation, population ethics, decision-making under risk, critical-level utilitarianism, social discounting

JEL Classification: D630, D710, D810, H430, Q560

Suggested Citation

Asheim, Geir B. and Zuber, Stephane, Probability Adjusted Rank-Discounted Utilitarianism (March 24, 2014). CESifo Working Paper Series No. 4728, Available at SSRN: https://ssrn.com/abstract=2428638 or http://dx.doi.org/10.2139/ssrn.2428638

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

Stephane Zuber

Ecole Normale Superieure (ENS) ( email )

45, rue d'Ulm
F-75230 Paris Cedex 05
France

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