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Suppes enunciated an equity criterion which, when social choice is utilitarian, implies giving equal weight to all individuals\u2019 utilities. By contrast, Arrow (Contemporary economic issues. International Economic Association Series. Palgrave Macmillan, London, 1999a; Discounting and Intergenerational Effects, Resources for the Future Press, Washington DC, 1999b) accepted, perhaps reluctantly, what he called Koopmans\u2019 (Econometrica 28(2):287\u2013309, 1960) \u201cstrong argument\u201d implying that no equitable preference ordering exists for a sufficiently unrestricted domain of infinite utility streams. Here we derive an equitable utilitarian objective for a finite population based on a version of the Vickrey\u2013Harsanyi original position, where there is an equal probability of becoming each person. For a potentially infinite population facing an exogenous stochastic process of extinction, an equitable<jats:italic>extinction biased<\/jats:italic>original position requires equal<jats:italic>conditional<\/jats:italic>probabilities, given that the individual\u2019s generation survives the extinction process. Such a position is well-defined if and only if survival probabilities decline fast enough for the expected total number of individuals who can ever live to be finite. Then, provided that each individual\u2019s utility is bounded both above and below, maximizing expected \u201cextinction discounted\u201d total utility\u2014as advocated,<jats:italic>inter alia<\/jats:italic>, by the<jats:italic>Stern Review<\/jats:italic>on climate change\u2014provides a coherent and dynamically consistent equitable objective, even when the population size of each generation can be chosen.<\/jats:p>","DOI":"10.1007\/s00355-019-01236-z","type":"journal-article","created":{"date-parts":[[2020,1,23]],"date-time":"2020-01-23T16:02:31Z","timestamp":1579795351000},"page":"397-427","update-policy":"https:\/\/doi.org\/10.1007\/springer_crossmark_policy","source":"Crossref","is-referenced-by-count":17,"title":["Fundamental utilitarianism and intergenerational equity with extinction discounting"],"prefix":"10.1007","volume":"54","author":[{"given":"Graciela","family":"Chichilnisky","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-1125-3612","authenticated-orcid":false,"given":"Peter J.","family":"Hammond","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Nicholas","family":"Stern","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"297","published-online":{"date-parts":[[2020,1,23]]},"reference":[{"issue":"4","key":"1236_CR1","doi-asserted-by":"crossref","first-page":"404","DOI":"10.2307\/1907465","volume":"19","author":"KJ Arrow","year":"1951","unstructured":"Arrow KJ (1951) Alternative approaches to the theory of choice in risk-taking situations. 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