kaal:claim:4685567-029

Kaal adopts an indifference principle as the benchmark for a functioning impact certificate marketplace: a philanthropist should be indifferent between spending money to do a good deed and paying someone else to do it, provided the philanthropist receives the entire certificate for that deed.

in a perfect world of a functioning impact certificate marketplace, a philanthropist should be indifferent as to whether spending money to do a good deed or paying someone else to do it, provided the philanthropist gets the entire certificate for that good deed.

Wulf A. Kaal, Impact Investing Innovation - From Impact 1.0 to 3.0 (2024), Roadmap for Impact 3.0, p. 48
https://ssrn.com/abstract=4685567 · source PDF

Wulf A. Kaal, Impact Investing Innovation - From Impact 1.0 to 3.0 (2024). SSRN: https://ssrn.com/abstract=4685567

• certificates must be reliably attributable to the group that performed the activity
• a perfect world of a functioning impact certificate marketplace

normativesupport: arguedeconomics

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