On sustainability and social welfare |
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Institution: | 1. Dipartimento di Scienze Statistiche, Sapienza Università di Roma, Piazza Aldo Moro 5, 00185 Roma;2. Dipartimento di Matematica “Tullio Levi-Civita” Università di Padova, via Trieste, 63, 35131 Padova |
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Abstract: | This paper proposes to define sustainability in terms of leaving it possible for future generations to sustain certain defined targets. It is shown that variants of genuine savings and the ecological footprint can then serve as indicators of sustainability. The link between sustainability and intergenerational welfare is examined, and it is shown how to incorporate indicators of sustainability into a social welfare measure, including risk in the analysis. |
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Keywords: | Sustainability Genuine savings Ecological footprint Social welfare Overlapping generations |
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