Irreversibility, ignorance, and the intergenerational equity-efficiency trade-off

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Authors

We demonstrate the existence of an intergenerational equity-eciency tradeo
in policy-making that aims at Pareto-eciency across generations and sustainability, i.e. intergenerational equity. 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) unawareness (\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-o between intergenerational Pareto-eciency and sustainability.
OriginalspracheEnglisch
ZeitschriftEcological Economics
Band131
Seiten (von - bis)75-86
Anzahl der Seiten12
ISSN0921-8009
DOIs
PublikationsstatusErschienen - 2016

DOI

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