Translation invariance when utility streams are infinite and unbounded
AbstractThe axiom translation invariance consists in asserting the invariance of the ranking of two utility streams if one applies the same translation to both. This axiom is significant in the characterization of utilitarian criteria in finite dimension. This characterization is achieved thanks to the "weak weighted utilitarianism theorem".The objective here is to propose a generalization of this theorem in a space of infinite and unbounded utility streams. A consequence of the suggested generalization is that, in the context of intergenerational choice, every maximal point with respect to a paretian utilitarian order granting comparable considerations to the present and the future, is also a maximal point with respect to some future-oriented criterion.
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Bibliographic InfoArticle provided by The International Society for Economic Theory in its journal International Journal of Economic Theory.
Volume (Year): 7 (2011)
Issue (Month): 4 (December)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=1742-7355
Other versions of this item:
- Mabrouk, Mohamed B.R., 2008. "Translation invariance when utility streams are infinite and unbounded," MPRA Paper 17664, University Library of Munich, Germany, revised 05 Oct 2009.
- Mabrouk, Mohamed, 2008. "Translation invariance when utility streams are infinite and unbounded," MPRA Paper 18523, University Library of Munich, Germany, revised 01 Oct 2009.
- D99 - Microeconomics - - Intertemporal Choice and Growth - - - Other
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
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