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dc.contributor.authorHoberg, Nikolaien
dc.contributor.authorBaumgärtner, Stefanen
dc.date.accessioned2012-04-17T12:55:31Z-
dc.date.available2012-04-17T12:55:31Z-
dc.date.issued2011-
dc.identifier.urihttp://hdl.handle.net/10419/57153-
dc.description.abstractWe demonstrate the existence of an intergenerational equity-efficiency tradeoff in policy-making that aims at Pareto-efficiency across generations and sustainability, i.e. non-decreasing utility over time. Our model includes two salient characteristics of sustainability problems and policy: (i) temporal irreversibility, i.e. the inability to revise one's past actions; (ii) closed ignorance, i.e. future consequences of present actions in human-environment systems may be 'unknown unknowns'. If initially unforeseen sustainability problems become apparent and policy is enacted after irreversible actions were taken, policy-making faces a fundamental trade-off between intergenerational Pareto-efficiency and sustainability.en
dc.language.isoengen
dc.publisher|aLeuphana Universität Lüneburg, Institut für Volkswirtschaftslehre |cLüneburgen
dc.relation.ispartofseries|aWorking Paper Series in Economics |x198en
dc.subject.jelD3en
dc.subject.jelH23en
dc.subject.jelQ01en
dc.subject.jelQ38en
dc.subject.jelQ56en
dc.subject.ddc330en
dc.subject.keywordclimate changeen
dc.subject.keywordclosed ignoranceen
dc.subject.keywordintergenerational equity-efficiency tradeoffen
dc.subject.keywordirreversibilityen
dc.subject.keywordPareto-efficiencyen
dc.subject.keywordsustainabilityen
dc.subject.stwSoziale Gerechtigkeiten
dc.subject.stwWirtschaftliche Effizienzen
dc.subject.stwGenerationenbeziehungenen
dc.subject.stwPareto-Optimumen
dc.subject.stwNachhaltigkeiten
dc.subject.stwTheorieen
dc.titleIrreversibility, ignorance, and the intergenerational equity-efficiency trade-off-
dc.typeWorking Paperen
dc.identifier.ppn65492662Xen
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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