Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/57153
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dc.contributor.authorHoberg, Nikolaien_US
dc.contributor.authorBaumgärtner, Stefanen_US
dc.date.accessioned2012-04-17T12:55:31Z-
dc.date.available2012-04-17T12:55:31Z-
dc.date.issued2011en_US
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_US
dc.language.isoengen_US
dc.publisher|aUniv., Inst. für Volkswirtschaftslehre |cLüneburgen_US
dc.relation.ispartofseries|aUniversity of Lüneburg Working Paper Series in Economics |x198en_US
dc.subject.jelD3en_US
dc.subject.jelH23en_US
dc.subject.jelQ01en_US
dc.subject.jelQ38en_US
dc.subject.jelQ56en_US
dc.subject.ddc330en_US
dc.subject.keywordclimate changeen_US
dc.subject.keywordclosed ignoranceen_US
dc.subject.keywordintergenerational equity-efficiency tradeoffen_US
dc.subject.keywordirreversibilityen_US
dc.subject.keywordPareto-efficiencyen_US
dc.subject.keywordsustainabilityen_US
dc.subject.stwSoziale Gerechtigkeiten_US
dc.subject.stwWirtschaftliche Effizienzen_US
dc.subject.stwGenerationenbeziehungenen_US
dc.subject.stwPareto-Optimumen_US
dc.subject.stwNachhaltigkeiten_US
dc.subject.stwTheorieen_US
dc.titleIrreversibility, ignorance, and the intergenerational equity-efficiency trade-offen_US
dc.typeWorking Paperen_US
dc.identifier.ppn65492662Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US

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