Future generations and social justice
Most of the impacts of climate change will fall on future generations and the poor.
Equity and justice are therefore key issues underpinning international climate change policy. This programme explores the distributive consequences of climate change impacts and policies, both between and within generations. It also investigates the ethical foundations of economic models of climate policy.
There is a considerable body of evidence from behavioural economics and contingent valuation showing that our preferences exhibit both reference dependence and loss aversion, a.k.a. the endowment effect. In this … read more »