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Inequality averse criteria for evaluating infinite utility streams: The impossibility of Weak Pareto

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  • Alcantud, José Carlos R.

Abstract

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.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 147 (2012)
Issue (Month): 1 ()
Pages: 353-363

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Handle: RePEc:eee:jetheo:v:147:y:2012:i:1:p:353-363

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Web page: http://www.elsevier.com/locate/inca/622869

Related research

Keywords: Social welfare function; Equity; Inequality aversion; Pareto axiom; Intergenerational justice;

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  1. Chiaki Hara & Tomoichi Shinotsuka & Kotaro Suzumura & Yongsheng Xu, 2008. "Continuity and egalitarianism in the evaluation of infinite utility streams," Social Choice and Welfare, Springer, vol. 31(2), pages 179-191, August.
  2. Kaushik Basu & Tapan Mitra, 2003. "Aggregating Infinite Utility Streams with InterGenerational Equity: The Impossibility of Being Paretian," Econometrica, Econometric Society, vol. 71(5), pages 1557-1563, 09.
  3. Banerjee, Kuntal, 2006. "On the equity-efficiency trade off in aggregating infinite utility streams," Economics Letters, Elsevier, vol. 93(1), pages 63-67, October.
  4. Toyotaka Sakai, 2006. "Equitable Intergenerational Preferences on Restricted Domains," Social Choice and Welfare, Springer, vol. 27(1), pages 41-54, August.
  5. 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, 07.
  6. Alcantud, José C.R. & García-Sanz, María D., 2010. "Paretian evaluation of infinite utility streams: An egalitarian criterion," Economics Letters, Elsevier, vol. 106(3), pages 209-211, March.
  7. Geir Asheim & Tapan Mitra & Bertil Tungodden, 2012. "Sustainable recursive social welfare functions," Economic Theory, Springer, vol. 49(2), pages 267-292, February.
  8. Bossert, Walter & Sprumont, Yves & Suzumura, Kotaro, 2007. "Ordering infinite utility streams," Journal of Economic Theory, Elsevier, vol. 135(1), pages 579-589, July.
  9. Tjalling C. Koopmans, 1959. "Stationary Ordinal Utility and Impatience," Cowles Foundation Discussion Papers 81, Cowles Foundation for Research in Economics, Yale University.
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Cited by:
  1. 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.
  2. Sakamoto, Norihito, 2011. "Impossibilities of Paretian Social Welfare Functions for Infinite Utility Streams with Distributive Equity," Discussion Papers 2011-09, Graduate School of Economics, Hitotsubashi University.

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