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A long-standing challenge for welfare economics is to develop welfare criteria that can be applied to allocations with different population levels. Such a criterion is essential to resolve the optimal population problem, i.e., the tradeoff between population size and the welfare of each person...
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A long-standing challenge for welfare economics is to develop welfare criteria that can be applied to allocations with different population levels. Such a criterion is essential to resolve the optimal population problem, i.e., the tradeoff between population size and the welfare of each person...
Persistent link: https://www.econbiz.de/10012496107
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This paper presents an infinite-horizon version of intergenerational utilitarianism that is both satisfactorily … complete and consistent. By studying discounted utilitarianism as the discount factor tends to one, we obtain a welfare … criterion --- limit-discounted utilitarianism --- that combines efficiency and the equal treatment of generations with …
Persistent link: https://www.econbiz.de/10010258772
This paper presents an infinite-horizon version of intergenerational utilitarianism. By studying discounted … utilitarianism as the discount factor tends to one, we obtain a new welfare criterion: limit-discounted utilitarianism (LDU). We show …
Persistent link: https://www.econbiz.de/10011855845