Advertisement

Unjust Intergenerational Allocations

Part of the Sustainability, Economics, and Natural Resources book series (SENR, volume 3)

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.

Keywords

Productive Technology Total Consumption Resource Technology Relative Inequality Resource Stock 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  1. Asheim, G.B. (1988), Rawlsian intergenerational justice as a Markov-perfect equilibrium in a resource technology, Review of Economic Studies 55, 469–483 (Chap. 6 of the present volume)CrossRefGoogle Scholar
  2. Beals, R. and Koopmans, T.C. (1969), Maximizing stationary utility in a constant technology, SIAM Journal of Applied Mathematics 17, 1001–1015CrossRefGoogle Scholar
  3. Birchenhall, C.R. and Grout, P. (1979), On equal plans with an infinite horizon, Journal of Economic Theory 21, 249–264CrossRefGoogle Scholar
  4. Blackorby, C. and Donaldson, D. (1984), Utility vs. equity: Some plausible quasi-orderings, Journal of Public Economics 7, 365–381CrossRefGoogle Scholar
  5. Calvo, G. (1978), Some notes on time inconsistency and RawlsŠ maximin criterion, Review of Economic Studies 45, 97–102CrossRefGoogle Scholar
  6. Cass, D. and Mitra, T. (1991), Indefinitely sustained consumption despite exhaustible natural resources, Economic Theory 1, 119–146CrossRefGoogle Scholar
  7. Dalton, H. (1920), The measurement of the inequality of incomes, Economic Journal 30, 348–361CrossRefGoogle Scholar
  8. Dasgupta, P.S. and Heal, G.M. (1974), The optimal depletion of exhaustible resources, Review of Economic Studies (Symposium), 3-28Google Scholar
  9. Dasgupta, P.S. and Heal, G.M. (1979), Economic Theory and Exhaustible Resources. Cambridge University Press, Cambridge, UKGoogle Scholar
  10. Dasgupta, P.S., Sen, A. and Starrett, D. (1973), Notes on the measurement of inequality, Journal of Economic Theory 6, 180–187CrossRefGoogle Scholar
  11. Dasgupta, S. and Mitra, T. (1983), Intergenerational equity and efficient allocation of exhaustible Resources, International Economic Review 24, 133–153CrossRefGoogle Scholar
  12. Epstein, L.G. (1986a), Intergenerational consumption rules: An axiomatization of utilitarianism and egalitarianism, Journal of Economic Theory 38, 280–297CrossRefGoogle Scholar
  13. Epstein, L.G. (1986b), Intergenerational preference orderings, Social Choice and Welfare 3, 151–160CrossRefGoogle Scholar
  14. Ferejohn, J. and Page, T. (1978), On the foundation of intertemporal choice, American Journal of Agricultural Economics 60, 269–275CrossRefGoogle Scholar
  15. Harsanyi, J.C. (1955), Cardinal welfare, individualistic ethics, and interpersonal comparisons of utility, Journal of Political Economy 63, 309–321CrossRefGoogle Scholar
  16. Koopmans, T.C. (1967), Intertemporal distribution and optima1 aggregate economic growth, in Ten Economic Studies in the Tradition of Irving Fisher. Wiley, New YorkGoogle Scholar
  17. Mishan, E. (1977), Economic criteria for intergenerational comparisons, Futures 9, 383–403CrossRefGoogle Scholar
  18. Page, T. (1977), Conservation and Economic Effiency. John Hopkins University Press, Baltimore, MDGoogle Scholar
  19. Rawls, J. (1971), Theory of Justice. Harvard University Press, Cambridge, MAGoogle Scholar
  20. Rawls, J. (1988), The priority of right and ideas of the good, Public Affairs 17, 251–276Google Scholar
  21. Ray, D. (1987), Nonpaternalistic intergenerational altruism, Journal of Economic Theory 41, 112–132CrossRefGoogle Scholar
  22. Sen, A.K. (1973), On Economic Inequality. Oxford University Press, London/New YorkCrossRefGoogle Scholar
  23. Sen, A.K. (1977), On weights and measures: Informational constraints in social welfare analysis, Econometrica 45, 1539–1572CrossRefGoogle Scholar
  24. Solow, R.M. (1974), Intergenerational equity and exhaustible resources, Review of Economic Studies (Symposium), 29-45Google Scholar
  25. Svensson, L.G. (1980), Equity among generations, Econometrica 48, 1251–1256CrossRefGoogle Scholar
  26. Vickrey, W. (1945), Measuring marginal utility by reactions to risk, Econometrica 13, 319–333CrossRefGoogle Scholar
  27. von Weizsäcker, C.C. (1965), Existence of optimal program of accumulation for an infinite time horizon, Review of Economic Studies 32, 85–104CrossRefGoogle Scholar
  28. WCED (The World Commission on Environment and Development) (1987), Our Common Future. Oxford University Press, Oxford, UKGoogle Scholar

Copyright information

© Springer 2007

Personalised recommendations