Policy Evaluation under Severe Uncertainty: A Cautious, Egalitarian Approach

In Conrad Heilmann & Julian Reiss (eds.), Routledge Handbook of Philosophy of Economics. London: Routledge. pp. 467-479 (2021)
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Abstract

In some severely uncertain situations, exemplified by climate change and novel pandemics, policymakers lack a reasoned basis for assigning probabilities to the possible outcomes of the policies they must choose between. I outline and defend an uncertainty averse, egalitarian approach to policy evaluation in these contexts. The upshot is a theory of distributive justice which offers especially strong reasons to guard against individual and collective misfortune.

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Alex Voorhoeve
London School of Economics

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