Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/96833
Authors: 
Asheim, Geir B.
Zuber, Stéphane
Year of Publication: 
2014
Series/Report no.: 
CESifo Working Paper 4728
Abstract: 
We propose and axiomatize probability adjusted rank-discounted critical-level generalized utilitarianism (PARDCLU). We thus generalize rank-discounted utilitarianism (RDU) (proposed by Zuber and Asheim, 2012) to variable population and risky situations and thereby take important steps towards preparing RDU for practical use, e.g. for evaluation of climate policies and other policy issues with long-run consequences. We illustrate how PARDCLU yields rank-dependent expected utilitarianism - but with additional structure - in a special case, and show how PARDCLU can handle a situation with positive probability of human extinction.
Subjects: 
social evaluation
population ethics
decision-making under risk
critical-level utilitarianism
social discounting
JEL: 
D63
D71
D81
H43
Q56
Document Type: 
Working Paper

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