Scandinavian Working Papers in Economics

Working Papers in Economics,
University of Gothenburg, Department of Economics

No 198: Cost Benefit Rules when Nature Counts

Olof Johansson-Stenman ()
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Olof Johansson-Stenman: Department of Economics, School of Business, Economics and Law, Göteborg University, Postal: Box 640, SE 405 30 GÖTEBORG

Abstract: This paper analyses normative implications of relaxing the conventional welfare economics assumptions anthropocentrism and welfarism, i.e. that only human well-being counts intrinsically, combined with various types of non-selfish individual preferences. Social decision rules are derived for the optimum provision of a public good (environmental quality). It is shown that in several cases analysed, the basic Samuelson rule still holds, in terms of aggregate marginal willingness to pay.

Keywords: Altruism; welfarism; anthropocentrism; cost-benefit analysis; public good provision; social preferences; conditional cooperation

JEL-codes: D60; D70; Q50

30 pages, First version: March 3, 2006. Revised: May 9, 2006.

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