The MBR social welfare criterion meets Rawls' view of intergenerational equity
Figuieres , Charles (INRA , Montpellier (France). UMR 1135 Laboratoire Montpelliérain d'Economie Théorique et Appliquée) | Van Long , Ngo (McGill University(Canada). Department of Economics) | Tidball , Mabel (INRA , Montpellier (France). UMR 1135 Laboratoire Montpelliérain d'Economie Théorique et Appliquée)
In this paper we further explore the properties of the Mixed Bentham- Rawls (MBR) criterion for intergenerational justice that was introduced in Alvarez-Cuadrado and Long (2009). In a simple economy with a nat- ural resource, cast in discrete time, we study the problem to .nd the best exploitation policy under the MBR criterion. We .nd out su¢ cient condi- tions for optimality, that complements the necessary .rst order conditions o¤ered in Alvarez-Cuadrado and Long (2009). Then, we retain a speci.ed version of the model in which we compute the optimal path and shed light on the consequences of using this criterion from the point of view of eq- uity between generations. Interestingly enough, the best program under the MBR criterion shows a pattern of exploitation of the natural resource that is in line with recent proposals made by philosophers to go beyond the rawlsian criterion.
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