Inequality averse criteria for evaluating infinite utility streams: The impossibility of Weak Pareto
AbstractThis 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 InfoArticle provided by Elsevier in its journal Journal of Economic Theory.
Volume (Year): 147 (2012)
Issue (Month): 1 ()
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Web page: http://www.elsevier.com/locate/inca/622869
Social welfare function; Equity; Inequality aversion; Pareto axiom; Intergenerational justice;
Other versions of this item:
- Alcantud, José Carlos R., 2010. "Inequality averse criteria for evaluating infinite utility streams: The impossibility of Weak Pareto," MPRA Paper 27618, University Library of Munich, Germany.
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
- D90 - Microeconomics - - Intertemporal Choice - - - General
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- Alcantud, José Carlos R. & García-Sanz, María D., 2010. "Evaluations of infinite utility streams: Pareto-efficient and egalitarian axiomatics," MPRA Paper 20133, University Library of Munich, Germany.
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- Tjalling C. Koopmans, 1959. "Stationary Ordinal Utility and Impatience," Cowles Foundation Discussion Papers 81, Cowles Foundation for Research in Economics, Yale University.
- 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.
- 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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