@techreport{Zuber2010Justifying,
abstract = {The discounted utilitarian criterion for infinite horizon social choice has been criticized for treating generations unequally. We propose an extended rank-discounted utilitarian (ERDU) criterion instead. The criterion amounts to discounted utilitarianism on non-decreasing streams, but it treats all generations impartially: discounting becomes the mere expression of intergenerational inequality aversion. We show that more inequality averse ERDU societies have higher social discount rates when future generations are better-off. We apply the ERDU approach in two benchmark economic growth models and prove that it promotes sustainable policies that maximize discounted utilitarian welfare.},
address = {M\"{u}nchen},
author = {St\'{e}phane Zuber and Geir B. Asheim},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {D63; H43; Q56; 330; intergenerational equity; social discounting; discounted utilitarianism; sustainability; Soziale Diskontrate; Generationenbeziehungen; Utilitarismus; Nachhaltige Entwicklung; Theorie},
language = {eng},
number = {3192},
publisher = {CESifo},
title = {Justifying social discounting: The rank-discounted utilitarian approach},
type = {CESifo working paper: Public Choice},
url = {http://hdl.handle.net/10419/46516},
year = {2010}
}
