IF lecture 2

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Questions and Answers

What is one of the main focuses of intergenerational fairness?

Minimizing environmental degradation only in the present

Distributing resources equitably across generations (correct)

Maximizing current economic growth

Eliminating all forms of taxation

What does the convergence in intergenerational justice theories suggest?

Universal application of axioms in all situations

Strict adherence to traditional resource allocation methods

A focus only on immediate rewards

The potential introduction of varied value judgments (correct)

Which of the following is NOT an approach in the theories of intergenerational justice?

Establishing social welfare functions

Emphasizing short-term financial incentives (correct)

Distributing resources

Exploring puzzling examples

What is a benefit of implementing setting-specific axioms in intergenerational justice?

It allows for a more precise understanding of behavioral responses Signup and view all the answers

In the context of social welfare functions, what is a critical consideration?

Incorporating diverse metrics for resource distribution Signup and view all the answers

What are the two main approaches in normative economics as discussed?

Choosing and ranking Signup and view all the answers

Which of the following best describes the 'choosing' approach?

It focuses on how society ought to choose for each situation. Signup and view all the answers

Which concept closely aligns with ranking in consumer theory?

Preference-based approach Signup and view all the answers

What aspect does the 'ranking' approach focus on?

It assesses how society ought to rank different alternatives. Signup and view all the answers

Which of the following is NOT listed as a consideration in the document?

Consumer behavior analysis Signup and view all the answers

What are 'puzzling examples' likely to refer to in the context of intergenerational justice?

Complex cases that challenge existing theories. Signup and view all the answers

In the context of intergenerational fairness, what do 'desiderata' refer to?

Criteria or goals that should be met. Signup and view all the answers

Which approach involves determining how society ought to select options?

Choosing approach Signup and view all the answers

What does the symbol $t$ denote in the context of intergenerational fairness?

The time period for each generation Signup and view all the answers

What is considered a foundational element of theories of justice?

Value judgments Signup and view all the answers

What does the statement 'social welfare increases when all individuals are better off' imply?

Overall societal welfare improves with equitable conditions Signup and view all the answers

Which assumption indicates that there is only one type of good consumed across generations?

Assumption 5 Signup and view all the answers

Which of the following describes a moral perspective on wealth distribution?

Transferring resources from poorer individuals to wealthier ones is morally wrong Signup and view all the answers

What does the symbol $C_f$ represent in the context of consumption streams?

The set of all feasible consumption streams Signup and view all the answers

Which assumption states that time is treated as discrete?

Assumption 4 Signup and view all the answers

In the context of intergenerational justice, what is a key concern when distributing resources?

Ensuring negative impacts on future generations are minimized Signup and view all the answers

Within the context of intergenerational fairness, what is a consumption stream?

A sequence of consumption levels over different periods Signup and view all the answers

Which statement aligns with a social welfare function perspective?

Enhanced individual welfare always leads to societal progress Signup and view all the answers

What is the role of puzzling examples in the theories of intergenerational justice?

They help clarify complex ethical dilemmas Signup and view all the answers

Which assumption relates to the feasibility of consumption streams?

Assumption 6 Signup and view all the answers

Which of the following best describes the concept of 'assumptions' in intergenerational fairness?

They are foundational beliefs that underlie theories Signup and view all the answers

Which of the following best describes the term 'distributing resources' in intergenerational justice?

Determining the appropriate sharing of resources between current and future generations Signup and view all the answers

What is the main difference between choosing and ranking in resource distribution?

Choosing is situation-specific while ranking is universal. Signup and view all the answers

What is the significance of considering both generations and time periods in intergenerational fairness?

It allows for a clearer understanding of consumption over time. Signup and view all the answers

How does the principle of equality relate to social welfare in intergenerational justice?

Equality is perceived as socially beneficial Signup and view all the answers

What is a characteristic of situation-specific rankings?

They allow for a wide range of value judgments. Signup and view all the answers

Which of the following describes a benefit of introducing setting-specific axioms?

It allows for the exploration of optimal solutions in unique scenarios. Signup and view all the answers

What do social welfare functions primarily deal with in the context of intergenerational fairness?

Distributing resources based on generational needs. Signup and view all the answers

What is one assumption in theories of intergenerational justice?

Resource distribution can impact social welfare across generations. Signup and view all the answers

In the context of resource distribution, what does the term 'puzzling examples' refer to?

Unique scenarios that challenge existing theories of justice. Signup and view all the answers

Why is it important to account for behavioral responses in resource distribution?

They can influence the effectiveness of decision-making. Signup and view all the answers

How does ranking differ from choosing in the context of resource allocation?

Ranking emphasizes uniformity whereas choosing emphasizes flexibility. Signup and view all the answers

What concept is exemplified by the consumption streams c1 and c3 being considered indifferent?

Transitivity of social preferences Signup and view all the answers

Which consumption stream pattern reflects alternating patterns of resource consumption?

c2 ≡ (0, 1, 0, 1, 0, 1,...) Signup and view all the answers

What term refers to the effectiveness of distributing resources across generations?

Efficiency Signup and view all the answers

What failure occurs when the consumption of certain generations is deemed irrelevant?

Inefficiency Signup and view all the answers

Which of the following is NOT a consideration in intergenerational justice theories?

Current demographic trends Signup and view all the answers

Which factor may lead to a lack of efficiency in resource distribution among generations?

Generational imbalance in preferences Signup and view all the answers

What is reflected by the term 'desiderata' in the context of intergenerational justice?

Desired outcomes or principles Signup and view all the answers

Which example illustrates that some generations may not benefit from resource consumption?

c3 ≡ (0, 0, 1, 0, 1, 0,...) Signup and view all the answers

Study Notes

Intergenerational Fairness Lecture Notes

The lecture covers theories of intergenerational justice, focusing on distributing resources.
A synopsis from Gosseries (2008) was referenced.
The lecture discusses assumptions about how generations live in time; each generation lives in one period, each generation is represented by a single agent, and each generation lives for sure.
There's a concept of simplifying assumptions.
Time is discrete (e.g., t ∈ T = [0, ∞) = N).
A single consumption good exists (ct).
A consumption stream (c = (c0, c1, ...)) is defined.
Feasible sets of consumption streams are identified (f).
Ethical considerations for formalizing desirable outcomes are outlined.
Value judgments capture ethical views forming the foundation of justice theories.
Examples of judgments include social welfare increasing with everyone's well being, transfer from poor to rich being morally wrong, and equality being socially good.
Axioms are mathematical formulations of value judgments.
Examples of axioms are provided.
The axiomatic approach formulates axioms to interpret value judgments.
Some axioms define families of criteria; others define a single criterion, and others are incompatible.
Normative economics approaches are described.
Choosing identifies how society ought to choose from various situations.
Ranking identifies how society should order alternatives.
Consumer theory concepts apply; choice-based and preference-based approaches are related.
Choosing is usually situation-specific (e.g., sharing a resource, allocating tasks).
Ranking tends to be universal, focusing on optimum choices.
Recent attempts involve making rankings situation-specific to resolve prior issues.
Methods include reducing axiom application to simplified settings, introducing setting-specific axioms, and combining different criteria (including considering behavioral responses and second-best optima).
Social welfare functions for rankings are discussed.
Socially desirable consumption streams are defined by binary relations (e.g., c ≼ d).
For individual preferences, ranking is generally assumed to be transitive (c ≼ d and d ≼ e implies c ≼ e) and complete (either c ≼ d or d ≼ c).
Rankings are continuous ("small changes don't significantly alter ranking").
Rankings can be represented by social welfare functions (W) (c ≼ d if and only if W(c) ≥ W(d)).
The presented examples highlight the challenges in resource allocation.
Example 1 concerns sharing a non-renewable resource.
An egalitarian resource distribution is challenging; attempting to distribute equally across all generations is not feasible.
Example 2 introduces the anonymity axiom—the name of generations doesn't matter.
Following the anonymity axiom leads to further difficulties in finding a satisfactory solution.

Puzzling Examples

Example 1: Sharing a non-renewable resource. An egalitarian distribution is not feasible.
Example 2: The importance of the order of generations is not significant to finding a solution.

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Description

This lecture explores theories of intergenerational justice, emphasizing the distribution of resources among generations. It examines simplifying assumptions and the ethical dimensions that underpin justice theories, along with the implications of consumption streams and welfare judgments. Understanding these concepts is crucial for evaluating fairness across different generations.