Unjust Intergenerational Allocations
An intergenerational allocation is defined to be unjust if there is a feasible allocation with more total consumption and less relative inequality. Unjust allocations are characterized in technologies satisfying certain regularity conditions. After ruling out unjust allocations, the consequences of letting generations choose according to a standard form of altruistic preferences are explored into particular classes of technologies. A connection between excluding unjust allocations and maximizing the welfare of the worst off generation is established in these technologies.
KeywordsProductive Technology Total Consumption Resource Technology Relative Inequality Resource Stock
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