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Climate control needs have reached momentum. While scientists call for stabilizing climate and regulators structure climate change mitigation and adaptation efforts around the globe, economists are concerned with finding proper and fair financing mechanisms. In an overlapping-generations framework, Sachs (2014) solves the climate change predicament that seems to pit today’s against future generations. Sachs (2014) proposes that the current generation mitigates climate change financed through bonds to remain financially as well-off as without mitigation while improving environmental well-being of future generations through ensured climate stability. This intergenerational tax-and-transfer policy turns climate change mitigation into a Pareto improving strategy. Sachs’ (2014) discrete model is integrated in contemporary growth and resource theories. The following article analyzes how climate bonds can be phased-in, in a model for a socially optimal solution and a laissez-faire economy. Optimal trajectories are derived partially analytically (e.g., by using the Pontryagin maximum principle to define the optimal equilibrium), partially data driven (e.g., by the use of modern big market data), and partially by using novel cutting-edge methods – for example, nonlinear model predictive control (NMPC), which solves complex dynamic optimization problems with different nonlinearities for infinite and finite decision horizons. NMPC will be programed with terminal condition in order to determine appropriate numeric solutions converging to some optimal equilibria. The analysis tests if the climate change debt adjusted growth model stays within the bounds of a sustainable fiscal policy by employing NMPC, which solves complex dynamic systems with different nonlinearities.

We review previous research on intergenerational conflict, focusing on the practical implications of this research for organizational leaders. We explain how the interaction between the interpersonal and intertemporal dimensions of intergenerational decisions creates the unique psychology of intergenerational decision-making behavior. In addition, we review the boundary conditions that have characterized much of the previous research in this area, and we examine the potential effects of loosening these constraints. Our proposals for future research include examination of the effect of intra-generational decision making on intergenerational beneficence, consideration of the role of third parties and linkage issues, investigation of the effects of intergenerational communications and negotiation when generations can interact, examination of the role of social power in influencing intergenerational interactions, investigation of the interaction between temporal construal and immortality striving, and exploration of the ways in which present decision makers detect and define the intergenerational dilemmas in their social environments.

Acting on the behalf of future generations can require nontrivial sacrifice on the part of the present generation. Yet, people can gain important social psychological benefits from such acts, such as experiencing a connection to an entity that will presumably continue to exist in the social environment after they themselves are no longer a part of it. Consequently, intergenerational beneficence can help people to fill the basic human need for immortality striving. This is a benefit that is not as easily achieved by altruistic behaviors toward contemporary others. Based on some key insights from Terror Management Theory (TMT), I postulate that under conditions of mortality salience, people will demonstrate more altruism toward future generations than toward needy contemporaries − contrary to what might be expected based on the existing literature on intertemporal choice. Thus, the temporal aspect of intergenerational contexts may actually promote rather than hinder altruistic tendencies under certain conditions.

Women perform the majority of household labour in many families around the world. However, the unequal division of household labour does not lead to dissatisfaction among women. In the present study, the author introduced the intergenerational household assistance to understand married women’s and men’s satisfaction with division of household labour in China, in addition to three major theoretical perspectives in studies of western families (i.e., relative resources, time availability, and gender role ideology). Logistic regression analyses on a nationally representative dataset (the Second Wave Survey of Chinese Women’s Social Status) were performed to study this topic. Consistent with studies in the West, the results show that relative resources, time availability, and gender ideology were associated with married Chinese women’s satisfaction, while married Chinese men’s satisfaction was only associated with time availability (the household labour done by them and their wives). Importantly, married women with parents-in-law’s household assistance tend to be more satisfied than those with help from their parents. The findings demonstrate that Chinese marriages are intertwined with intergenerational relationships and suggest that it is important to take into account of the influence of intergenerational relationships in studies of Chinese marriages.