Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/314669 
Year of Publication: 
2025
Series/Report no.: 
CESifo Working Paper No. 11630
Publisher: 
CESifo GmbH, Munich
Abstract: 
We study all theories of justice that disentangle ethical views on intergenerational discounting and intergenerational inequality. Each "modular" social welfare function is uniquely identified by a time-discounting function—capturing attitudes toward time—and an aggregator function— capturing attitudes toward inequality. Our axiomatic characterization identifies the properties and establishes the limits of disentangling discounting and inequality. Our theories include as special cases the most common welfare criteria adopted in the literature, while uncovering unexplored (and yet tractable) families of alternative criteria.
Subjects: 
intergenerational justice
discounting
inequality
JEL: 
D30
D60
H43
I31
Q50
Document Type: 
Working Paper
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