Cassandra’s Curse: A second tragedy of the commons
Philippe Colo (ETH Zurich)
GPI Working Paper No. 12 - 2022, published in the Social Science Research Network Research Paper Series
This paper studies why scientific forecasts regarding exceptional or rare events generally fail to trigger adequate public response. I consider a game of contribution to a public bad. Prior to the game, I assume contributors receive non-verifiable expert advice regarding uncertain damages. In addition, I assume that the expert cares only about social welfare. Under mild assumptions, I show that no information transmission can happen at equilibrium when the number of contributors is high or the severity of damages is low. Then, contributors ignore scientific reports and act solely upon their prior belief.
Other working papers
Choosing the future: Markets, ethics and rapprochement in social discounting – Antony Millner (University of California, Santa Barbara) and Geoffrey Heal (Columbia University)
This paper provides a critical review of the literature on choosing social discount rates (SDRs) for public cost-benefit analysis. We discuss two dominant approaches, the first based on market prices, and the second based on intertemporal ethics. While both methods have attractive features, neither is immune to criticism. …
Population ethical intuitions – Lucius Caviola (Harvard University) et al.
Is humanity’s existence worthwhile? If so, where should the human species be headed in the future? In part, the answers to these questions require us to morally evaluate the (potential) human population in terms of its size and aggregate welfare. This assessment lies at the heart of population ethics. Our investigation across nine experiments (N = 5776) aimed to answer three questions about how people aggregate welfare across individuals: (1) Do they weigh happiness and suffering symmetrically…
The case for strong longtermism – Hilary Greaves and William MacAskill (Global Priorities Institute, University of Oxford)
A striking fact about the history of civilisation is just how early we are in it. There are 5000 years of recorded history behind us, but how many years are still to come? If we merely last as long as the typical mammalian species…