|Budget Amount *help
¥3,510,000 (Direct Cost: ¥2,700,000、Indirect Cost: ¥810,000)
Fiscal Year 2014: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2013: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2012: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
|Outline of Final Research Achievements
The conflict of interest between generations has been getting worse with progress of low birthrate and aging in Japan. An urgent problem in welfare economics is to provide intergenerational ethics that help resolve the intergenerational conflicts. In addition, tail risks are potential factors that could aggravate the intergenerational conflicts. Tail event is referred to as something that occurs with an extremely low probability but entails catastrophic damages when it happens. The Great East Japan Earthquake and climate change arising from global warming are typical examples of tail events. The question of intergenerational equity immediately arises when it comes to tail risk evaluation: the choice of discount rate for future utility is of vital importance for the evaluation. In this study, I consider the problem of the tail risk evaluations such as a climate change or the large-scale earthquake in a framework of welfare economics and social choice theory.