NDLI: Policymaking for posterity

Content Provider	Springer Nature Link
Author	Summers, Lawrence Zeckhauser, Richard
Copyright Year	2008
Abstract	Policymaking for posterity involves current decisions with distant consequences. Contrary to conventional prescriptions, we conclude that the greater wealth of future generations may strengthen the case for preserving environmental amenities; lower discount rates should be applied to the far future, and special effort should be made to avoid actions that impose costs on future generations. Posterity brings great uncertainties. Even massive losses, such as human extinction, however, do not merit infinite negative utility. Given learning, greater uncertainties about damages could increase or decrease the optimal level of current mitigation activities. Policies for posterity should anticipate effects on: alternative investments, both public and private; the actions of other nations; and the behaviors of future generations. Such effects may surprise. This analysis blends traditional public finance and behavioral economics with a number of hypothetical choice problems.
Starting Page	115
Ending Page	140
Page Count	26
File Format	PDF
ISSN	08955646
Journal	Journal of Risk and Uncertainty
Volume Number	37
Issue Number	2-3
e-ISSN	15730476
Language	English
Publisher	Springer US
Publisher Date	2008-09-30
Publisher Place	Boston
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Discounting Posterity Altruism Comet problem Trolley problem Climate change Global warming Uncertainty Learning Reaction function Environmental Economics Operations Research/Decision Theory Microeconomics Economic Theory
Content Type	Text
Resource Type	Article
Subject	Finance Accounting Economics and Econometrics

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

Discounting dilemmas: Editors’ introduction

Perfect and total altruism across the generations

Viewing the future through a warped lens: Why uncertainty generates hyperbolic discounting

Discounting climate change

Group cooperation under uncertainty

The Effects of Spousal Health on the Decision to Smoke: Evidence on Consumption Externalities, Altruism and Learning Within the Household

Asymmetric discounting of gains and losses: A query theory account

Discounting with fat-tailed economic growth

A further exploration of the uncertainty effect

Policymaking for posterity

Similar Documents

Discounting dilemmas: Editors’ introduction

Perfect and total altruism across the generations

Viewing the future through a warped lens: Why uncertainty generates hyperbolic discounting

Discounting climate change

Group cooperation under uncertainty

The Effects of Spousal Health on the Decision to Smoke: Evidence on Consumption Externalities, Altruism and Learning Within the Household

Asymmetric discounting of gains and losses: A query theory account

Discounting with fat-tailed economic growth

A further exploration of the uncertainty effect

Policymaking for posterity