RSS | Nicolas Treich "Consumption, Risk and Prioritarianism" - Grantham Research Institute on climate change and the environment<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lse.ac.uk\/granthaminstitute\/events\/rss-nicolas-treich\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RSS | Nicolas Treich "Consumption, Risk and Prioritarianism" - Grantham Research Institute on climate change and the environment\" \/>\n<meta property=\"og:description\" content=\"Prof. Nicolas Treich, Director of Research at INRA Toulouse, will be the speaker at this event. 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{"id":17149,"date":"2015-11-30T15:45:38","date_gmt":"2015-11-30T15:45:38","guid":{"rendered":"https:\/\/www.lse.ac.uk\/granthaminstitute\/?post_type=event&p=17149"},"modified":"2017-08-11T17:15:04","modified_gmt":"2017-08-11T16:15:04","slug":"rss-nicolas-treich","status":"publish","type":"event","link":"https:\/\/www.lse.ac.uk\/granthaminstitute\/events\/rss-nicolas-treich\/","title":{"rendered":"RSS | Nicolas Treich “Consumption, Risk and Prioritarianism”"},"content":{"rendered":"\n

Prof. Nicolas Treich

Abstract:<\/strong><\/p>\n

In this paper, we study consumption decisions under risk assuming a “prioritarian” social welfare function. This leads to a distinction between ex ante and ex post prioritarian consumption rules. Under standard assumptions, there is always more current consumption under ex ante prioritarianism than under utilitarianism. Thus, a concern
\nfor equity (in the ex ante prioritarian sense) means less concern for the risky future. In contrast, there is usually less current consumption under ex post prioritarianism than under utilitarianism. We discuss the robustness of these optimal consumption rules to learning, and to more general forms of prioritarianism.<\/p>\n

The full paper can be viewed here.<\/a><\/p>\n\n","protected":false},"excerpt":{"rendered":"\n