gulatory approach? 4. If future generations were able to contract with us, they would presumably bargain for a higher level of environmental quality than we would choose to leave them without such compensation. To what extent should society recognize these future interests? Should our views be affected at all by the fact that future generations will be more affluent and will probably have a higher standard of living? How will this difference in wealth affect their willingness to pay for envi- ronmental quality, as opposed to that of current generations? What will be the equity effects in terms of income distribution across generations? ks? Which risk would ou reon