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Probability Adjusted Rank-Discounted Utilitarianism

Geir B. Asheim,Geir B. Asheim,Stéphane Zuber

Published 2014 in Social Science Research Network

ABSTRACT

We propose and axiomatize probability adjusted rank-discounted critical-level generalized utilitarianism (PARDCLU). We thus generalize rank-discounted utilitarianism (RDU) (proposed by Zuber and Asheim, 2012) to variable population and risky situations and thereby take important steps towards preparing RDU for practical use, e.g. for evaluation of climate policies and other policy issues with long-run consequences. We illustrate how PARDCLU yields rank-dependent expected utilitarianism - but with additional structure - in a special case, and show how PARDCLU can handle a situation with positive probability of human extinction.

PUBLICATION RECORD

  • Publication year

    2014

  • Venue

    Social Science Research Network

  • Publication date

    2014-03-24

  • Fields of study

    Philosophy, Economics, Environmental Science

  • Identifiers
    DOI 10.2139/ssrn.2428638
  • External record

    Open on Semantic Scholar

  • Source metadata

    Semantic Scholar

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