Forward and Backward Intergenerational Goods: Why Is Social Security Good for the Environment?
研究自私或利他主义下，非市场机构如何最优投资于教育、环境等前向代际商品，发现社会保障等后向代际商品对维持投资至关重要，且强制提供社会保障会挤出自愿的前向代际商品投资。
This paper studies the ability of nonmarket institutions to invest optimally in forward intergenerational goods (FIGs), such as education and the environment, when agents are selfish or exhibit paternalistic altruism. We show that backward intergenerational goods (BIGs), such as social security, play a crucial role in sustaining investment in FIGs: without them investment is inefficiently low, but with them optimal investment is possible. We also show that making the provision of BIGs mandatory crowds out the voluntary provision of FIGs, and that population aging can increase investment in FIGs.