THE PARETO PRINCIPLE OF OPTIMAL INEQUALITY*
研究了在时间一致且存在不确定性的跨期模型中，帕累托原则通常无法兼容不同程度的不平等厌恶。
The Pareto principle is often viewed as a mild requirement compatible with a variety of value judgments. In particular, it is generally thought that it can accommodate different degrees of inequality aversion. We show that this is generally not true in time‐consistent intertemporal models where some uncertainty prevails.