Publication Details

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Title (Primary) Sustainability as a fair bequest: an evaluation challenge
Author Klauer, B.; Bartkowski, B.; Manstetten, R.; Petersen, T.
Journal Ecological Economics
Year 2017
Department OEKON
Volume 141
Page From 136
Page To 143
Language englisch
Keywords Sustainability; Weak and Strong Sustainability; Valuation; Essentials; Non-substitutability; Uniqueness
UFZ wide themes RU6;
Abstract In contrast to conventional approaches the conceptualisation of sustainability as fair bequest makes it possible to consider a finite time horizon. Valuation is necessary to determine whether the bequest package that is passed on from one generation to the next is fair. Acknowledging the merits as well as the limitations of economic price theory, this paper differentiates between three classes of valuables: the essential, the useful and the unique. It is argued that a fair bequest package should contain items from each of the classes. Because the three classes are incommensurable, fairness of the bequest cannot be expressed by a single figure like a non-declining total value of the package. We then discuss which methods are appropriate for describing a bequest package with respect to its fairness.
Persistent UFZ Identifier https://www.ufz.de/index.php?en=20939&ufzPublicationIdentifier=18897
Klauer, B., Bartkowski, B., Manstetten, R., Petersen, T. (2017):
Sustainability as a fair bequest: an evaluation challenge
Ecol. Econ. 141 , 136 - 143