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Evaluations of Infinite Utility Streams: Pareto Efficient and Egalitarian Axiomatics

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  • José Carlos R. Alcantud
  • María D. García-Sanz

Abstract

Two factors influence the resolution of the conflict among infinite generations: the consistency/ethical postulates requested; and the utilities that each generation can possess. We contribute to qualifying the Basu-Mitra approach to this problem, that concerns social welfare functions. Firstly we examine efficiency and strengthened forms of Hammond Equity for the Future both when the feasible utilities are [0,1] and natural numbers. This complements Banerjee (Economics Letters, 2006) and Alcantud and Garcia- Sanz (Economics Letters, 2010). Secondly, we analyze the possibility of combining Pareto-efficiency and the spirit of the Hammond Equity principle for both specfications of the feasible utilities. Here the case study is richer since we analyze four different versions of this principle. We conclude that the Anonymity, Hammond Equity for the Future, and Hammond Equity ethics can be combined with weak specifications of the Pareto postulate at a time even through explicit social welfare functions.
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Suggested Citation

  • José Carlos R. Alcantud & María D. García-Sanz, 2013. "Evaluations of Infinite Utility Streams: Pareto Efficient and Egalitarian Axiomatics," Metroeconomica, Wiley Blackwell, vol. 64(3), pages 432-447, July.
    • Handle: RePEc:bla:metroe:v:64:y:2013:i:3:p:432-447
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    Cited by:

    1. José Alcantud, 2013. "Liberal approaches to ranking infinite utility streams: when can we avoid interference?," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 41(2), pages 381-396, July.
    2. Alcantud, José Carlos R., 2012. "Inequality averse criteria for evaluating infinite utility streams: The impossibility of Weak Pareto," Journal of Economic Theory, Elsevier, vol. 147(1), pages 353-363.
    3. Ram Dubey & Tapan Mitra, 2014. "Combining monotonicity and strong equity: construction and representation of orders on infinite utility streams," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 43(3), pages 591-602, October.
    4. José Carlos R. Alcantud, 2013. "The impossibility of social evaluations of infinite streams with strict inequality aversion," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 1(2), pages 123-130, November.
    5. Dubey, Ram Sewak & Laguzzi, Giorgio, 2021. "Equitable preference relations on infinite utility streams," Journal of Mathematical Economics, Elsevier, vol. 97(C).
    6. Sakamoto, Norihito, 2012. "Impossibilities Of Paretian Social Welfare Functions For Infinite Utility Streams With Distributive Equity," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 53(2), pages 121-130, December.
    7. Sakamoto, Norihito & 坂本, 徳仁, 2011. "Impossibilities of Paretian Social Welfare Functions for Infinite Utility Streams with Distributive Equity," Discussion Papers 2011-09, Graduate School of Economics, Hitotsubashi University.
    8. Dubey, Ram Sewak & Mitra, Tapan, 2014. "On construction of equitable social welfare orders on infinite utility streams," Mathematical Social Sciences, Elsevier, vol. 71(C), pages 53-60.
    9. Ram Sewak Dubey & Tapan Mitra, 2015. "On social welfare functions on infinite utility streams satisfying Hammond Equity and Weak Pareto axioms: a complete characterization," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 3(2), pages 169-180, October.
    10. Toyotaka Sakai, 2010. "Intergenerational equity and an explicit construction of welfare criteria," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 35(3), pages 393-414, September.
    11. Dubey, Ram Sewak, 2016. "On construction of social welfare orders satisfying Hammond equity and Weak Pareto axioms," Mathematical Social Sciences, Elsevier, vol. 84(C), pages 119-124.
    12. Feng Feng & Yujuan Zheng & José Carlos R. Alcantud & Qian Wang, 2020. "Minkowski Weighted Score Functions of Intuitionistic Fuzzy Values," Mathematics, MDPI, vol. 8(7), pages 1-30, July.

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    More about this item

    JEL classification:

    • 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
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General

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