×

zbMATH — the first resource for mathematics

Inequality averse criteria for evaluating infinite utility streams: the impossibility of Weak Pareto. (English) Zbl 1258.91054
Summary: This paper investigates ethical aggregation of infinite utility streams by representable social welfare relations. We prove that the Hammond Equity postulate and other variations of it like the Pigou-Dalton transfer principle are incompatible with positive responsiveness to welfare improvements by every generation. The case of Hammond Equity for the Future is investigated too.

MSC:
91B14 Social choice
91B16 Utility theory
PDF BibTeX XML Cite
Full Text: DOI
References:
[1] Alcantud, J.C.R.; García-Sanz, M.D., Paretian evaluation of infinite utility streams: an Egalitarian criterion, Econ. letters, 106, 209-211, (2010) · Zbl 1203.91073
[2] Alcantud, J.C.R.; García-Sanz, M.D., Evaluations of infinite utility streams: Pareto-efficient and Egalitarian axiomatics, (2010), MPRA Paper No. 20133 · Zbl 1283.91061
[3] Asheim, G.B.; Mitra, T.; Tungodden, B., A new equity condition for infinite utility streams and the possibility of being Paretian, (), 55-68
[4] G.B. Asheim, T. Mitra, B. Tungodden, Sustainable recursive social welfare functions, Econ. Theory, doi:10.1007/s00199-010-0573-7, forthcoming. · Zbl 1277.91051
[5] G.B. Asheim, B. Tungodden, Do Koopmansʼ postulates lead to discounted utilitarianism?, Discussion paper 32/04, 2004, Norwegian School of Economics and Business Administration.
[6] Banerjee, K., On the equity-efficiency trade off in aggregating infinite utility streams, Econ. letters, 93, 63-67, (2006) · Zbl 1254.91134
[7] Basu, K.; Mitra, T., Aggregating infinite utility streams with intergenerational equity: the impossibility of being Paretian, Econometrica, 71, 1557-1563, (2003) · Zbl 1153.91648
[8] Basu, K.; Mitra, T., Possibility theorems for equitably aggregating infinite utility streams, (), 69-84
[9] Bossert, W.; Sprumont, Y.; Suzumura, K., Ordering infinite utility streams, J. econ. theory, 135, 579-589, (2007) · Zbl 1186.91086
[10] Koopmans, T.C., Stationary ordinal utility and impatience, Econometrica, 28, 287-309, (1960) · Zbl 0149.38401
[11] Hara, C.; Shinotsuka, T.; Suzumura, K.; Xu, Y., Continuity and egalitarianism in the evaluation of infinite utility streams, Soc. choice welfare, 31, 179-191, (2008) · Zbl 1163.91347
[12] Sakai, T., Equitable intergenerational preferences on restricted domains, Soc. choice welfare, 27, 41-54, (2006) · Zbl 1180.91085
[13] N. Sakamoto, Impossibilities of Paretian social welfare functions for infinite utility streams with distributive equity, Discussion Paper No. 2011-09, 2011, Graduate School of Economics, Hitotsubashi University.
This reference list is based on information provided by the publisher or from digital mathematics libraries. Its items are heuristically matched to zbMATH identifiers and may contain data conversion errors. It attempts to reflect the references listed in the original paper as accurately as possible without claiming the completeness or perfect precision of the matching.