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Climate policy under the Bentham-Rawls criterion

journal contribution
posted on 2023-06-08, 14:36 authored by Richard TolRichard Tol
A Bentham–Rawls welfare function is the weighted sum of the net present welfare (Bentham) and the welfare of the worst-off generation (Rawls). If utility is non-decreasing over time, optimal climate policy is more stringent in the near-term under the Bentham criterion than under the Bentham–Rawls criterion. If utility is decreasing, Bentham–Rawls abatement is higher. If there is a chance of decreasing utility, Bentham–Rawls optimal climate policy is probably less stringent than Bentham policy.

History

Publication status

  • Published

Journal

Economics Letters

ISSN

0165-1765

Publisher

Elsevier

Issue

3

Volume

118

Page range

424-428

Department affiliated with

  • Economics Publications

Full text available

  • No

Peer reviewed?

  • Yes

Legacy Posted Date

2013-03-15

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