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Intergenerational and intragenerational cooperation

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  • Heath, Joseph

Abstract

This paper is a contribution to a symposium on Michael Otsuka’s book, How to Pool Risk Across Generations. Following Otsuka, one may distinguish three distinct systems of cooperation within a standard pension arrangement: the retirement system, the longevity risk pool and the investment risk pool. It is important to observe, however, that only the retirement system constitutes a genuine system of intergenerational cooperation, the other two are essentially intragenerational, in that they pool risks among members of a cohort. Otsuka is faulted for being occasionally less than clear on these distinctions.

Suggested Citation

  • Heath, Joseph, 2025. "Intergenerational and intragenerational cooperation," Economics and Philosophy, Cambridge University Press, vol. 41(1), pages 206-211, March.
    • Handle: RePEc:cup:ecnphi:v:41:y:2025:i:1:p:206-211_14
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