Optimal growth models under Rawlsian criteria

Stefano Bosi (1, 2, 3) , Thai Ha-Huy (2, 1, 3)

1 EPEE - Centre d'Etudes des Politiques Economiques
2 Université Paris-Saclay
3 CEPS - Centre d'Economie de l'ENS Paris-Saclay

This article revisits the optimal growth with three distinct Rawlsian approaches: (1) the original Rawlsian criterion, popular in economic literature; (2) the maximin with multiple discount factors, introduced by Chambers and Echenique (2018); (3) the rank-dependent criterion, applied by Zuber and Asheim (2012) to growth theory. Finally, we develop a new approach based on a convex combination of the most common criteria: Ramsey-Cass-Koopmans and Rawls.

Keywords: Rawls criterion; maximin principle; multiple discount rates; Ramsey-Cass-Koopmans models. JEL classification numbers

Domains: Humanities and Social Sciences

Stefano Bosi, Thai Ha-Huy. Optimal growth models under Rawlsian criteria. 2024. ⟨hal-04481516⟩