Translation invariance when utility streams are infinite and unbounded

The axiom translation invariance consists in asserting the invariance of the ranking of two utility streams if one applies the same translation to both. This axiom is significant in the characterization of utilitarian criteria in finite dimension. This characterization is achieved thanks to the "weak weighted utilitarianism theorem".The objective here is to propose a generalization of this theorem in a space of infinite and unbounded utility streams. A consequence of the suggested generalization is that, in the context of intergenerational choice, every maximal point with respect to a paretian utilitarian order granting comparable considerations to the present and the future, is also a maximal point with respect to some future-oriented criterion.Translation invariance; Infinite utility streams; Utilitarianism; Intergenerational equity

Translation invariance when utility streams are infinite and unbounded

The axiom translation invariance consists in asserting the invariance of the ranking of two utility streams if one applies the same translation to both. This axiom is significant in the characterization of utilitarian criteria in finite dimension. This characterization is achieved thanks to the "weak weighted utilitarianism theorem".The objective here is to propose a generalization of this theorem in a space of infinite and unbounded utility streams. A consequence of the suggested generalization is that, in the context of intergenerational choice, every maximal point with respect to a paretian utilitarian order granting comparable considerations to the present and the future, is also a maximal point with respect to some future-oriented criterion.Translation invariance; Infinite utility streams; Utilitarianism; Intergenerational equity

The Shadows of Future Generations

This Note addresses the twin problems of political short-termism and intergenerational equity. Although scholars have discussed these concerns extensively, few scholars have developed proposals to modify democratic institutions-particularly legislatures-to better consider posterity\u27s interests. This Note critiques one such set of proposals by several environmental ethicists for including posterity-oriented legislators in present-generation legislatures. It then proposes a system that ties the long-term outcomes of legislators\u27 policy preferences to their pension plans by creating a new commodities market that values the decisions legislators make and their effect on posterity

Ethics of the scientist qua policy advisor: inductive risk, uncertainty, and catastrophe in climate economics

This paper discusses ethical issues surrounding Integrated Assessment Models (IAMs) of the economic effects of climate change, and how climate economists acting as policy advisors ought to represent the uncertain possibility of catastrophe. Some climate economists, especially Martin Weitzman, have argued for a precautionary approach where avoiding catastrophe should structure climate economists’ welfare analysis. This paper details ethical arguments that justify this approach, showing how Weitzman’s “fat tail” probabilities of climate catastrophe pose ethical problems for widely used IAMs. The main claim is that economists who ignore or downplay catastrophic risks in their representations of uncertainty likely fall afoul of ethical constraints on scientists acting as policy advisors. Such scientists have duties to honestly articulate uncertainties and manage (some) inductive risks, or the risks of being wrong in different ways

Research Frontiers in the Economics of Climate Change

Academic and policy debates over climate change risks and policies have stimulated economic research in a variety of fields. In this article I briefly discuss eight overlapping areas of current research in which further effort particularly is warranted. These areas include decision criteria for policy; risk assessment and adaptation; uncertainty and learning; abatement cost and the innovation and diffusion of technology; and the credibility of policies and international agreements. Further analysis in these areas not only will advance academic understanding but also will provide insights of considerable importance to policymakers.

Liberal approaches to ranking infinite utility streams: When can we avoid interferences?

In this work we analyse social welfare relations on sets of infinite utility streams that verify various types of liberal non-interference principles. Earlier contributions have established that (finitely) anonymous and strongly Paretian quasiorderings exist that agree with axioms of that kind together with weak preference continuity and further consistency. Nevertheless Mariotti and Veneziani prove that a fully liberal non-interfering view of a finite society leads to dictatorship if weak Pareto optimality is imposed. We first prove that extending the horizon to infinity produces a reversal of such impossibility result. Then we investigate a related problem: namely, the possibility of combining “standard” semicontinuity with efficiency in the presence of non-interference. We provide several impossibility results that prove that there is a generalised incompatibility between continuity and non-interference principles, both under ordinal and cardinal views of the problem. Our analysis ends with some insights on the property of representability in the presence of non-interference assumptions. In particular we prove that all social welfare functions that verify a very mild efficiency property must exert some interference (penalising both adverse and favorable changes) on the affairs of particular generations.Pareto axiom; Intergenerational justice; Social welfare relation; Non-interference; Continuity

A Simple and General Axiomatization of Average Utility Maximization for Infinite Streams

This paper provides, first, the most general preference axiomatization of average utility (AU) maximization over infinite sequences presently available, reaching almost complete generality (only restriction: all periodic sequences should be contained in the domain). Here, infinite sequences may designate intertemporal outcomes streams where AU models patience, or welfare allocations where AU models fairness, or decision under ambiguity where AU models complete ignorance. Second, as a methodological contribution, this paper shows that infinite-dimensional representations can be simpler, rather than more complex, than finite-dimensional ones: infinite dimensions provide a richness that is convenient rather than cumbersome. In particular, (empirically problematic) continuity assumptions are not needed. Continuity is optional

Land inheritance and schooling in matrilineal societies: evidence from Sumatra

This paper explores statistically the implications of the shift from communal to individualized tenure on the distribution of land and schooling between sons and daughters in matrilineal societies, based on a Sumatra case study. The inheritance system is evolving from a strictly matrilineal system to a more egalitarian system in which sons and daughters inherit the type of land that is more intensive in their own work effort. While gender bias is either non-existent or small in land inheritance, daughters tend to be disadvantaged with respect to schooling. The gender gap in schooling, however, appears to be closing for the generation of younger children.Gender, Property rights, Education,

Quasi-metrics for possibility results: intergenerational preferences and continuity

In this paper, we provide the counterparts of a few celebrated impossibility theorems for continuous social intergenerational preferences according to P. Diamond, L.G. Svensson and T. Sakai. In particular, we give a topology that must be refined for continuous preferences to satisfy anonymity and strong monotonicity. Furthermore, we suggest quasi-pseudo-metrics as an appropriate quantitative tool for reconciling topology and social intergenerational preferences. Thus, we develop a metric-type method which is able to guarantee the possibility counterparts of the aforesaid impossibility theorems and, in addition, it is able to give numerical quantifications of the improvement of welfare. Finally, a refinement of the previous method is presented in such a way that metrics are involved

The Pitfalls of Sustainability Policies: Insights into Plural Sustainabilities

A lot can be learned from the numerous pitfalls of sustainable development implementation: they outline how collective representation, short term interests and balance of power can undermine sustainability. For instance, the usefulness of global institutions in dealing with sustainable development is questionable as most are skewed toward the interests and perceptions of developed countries. The notion of sustainable development itself induces a profound cleavage between academic authors and the actors of its implementation, some of whom confuse it with sustainable growth (which favors spatial equity), whilst the others with environment management (which favors intergenerational equity). This polarization is a real problem, since originally, "Our Common Future" report promotes an inclusive approach, able to cope with both equities simultaneously. Finally, if there are obligations toward future generations, there are also obligations toward the current generation. The key issue for effective sustainability policies should be making them acceptable to everyone by including the expectations of local societies and communities. As a matter of consequence, universal solutions do not exist. They would not meet the specificities of local circumstances. The traditional prescriptive sustainable development model should give way to flexible plural sustainabilities. Singular, top-down, global-to-local approaches to sustainable development should be substituted for multiple sustainabilities