Sustainability with Uncertain Future Preferences |
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Authors: | Frank C Krysiak Daniela Krysiak |
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Institution: | 1. Faculty VIII, Economics and Management, Technische Universit?t Berlin, Strasse des 17, Juni 135, 10623, Berlin, Germany
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Abstract: | A feature of the sustainability problem is that the preferences of future generations are uncertain. In this paper, we put
forward a fairness-based definition of sustainability that takes this uncertainty into account. We analyze the implications
of this definition in the context of a model of project evaluation. We show that our definition encompasses the concepts of
non-declining welfare and of weak and strong sustainability. Furthermore, we show that preference uncertainty has a substantial
influence on the implications of sustainability.
We are indebted to two anonymous referees whose comments helped considerably to improve the paper. All remaining errors are
ours. |
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Keywords: | intergenerational justice project evaluation substitution possibilities sustainability uncertainty |
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