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Intertemporal equity and the extension of the Ramsey criterion

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  • Fleurbaey, Marc
  • Michel, Philippe

Abstract

We examine social orderings applied to infinite intergenerational consumption paths. Basic dilemmas between several reasonable axioms lead to a taxonomy and characterization of different kinds of orderings, some of which are well known extensions of the Ramsey criterion. We show how filters and ultrafilters can be used to understand the general structure of these extensions and to construct orderings which meet as many axioms as possible.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Mathematical Economics.

Volume (Year): 39 (2003)
Issue (Month): 7 (September)
Pages: 777-802

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Handle: RePEc:eee:mateco:v:39:y:2003:i:7:p:777-802

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  8. Dutta, Prajit K., 1991. "What do discounted optima converge to?: A theory of discount rate asymptotics in economic models," Journal of Economic Theory, Elsevier, vol. 55(1), pages 64-94, October.
  9. Blackorby, Charles & Bossert, Walter & Donaldson, David, 1995. "Intertemporal Population Ethics: Critical-Level Utilitarian Principles," Econometrica, Econometric Society, Econometric Society, vol. 63(6), pages 1303-20, November.
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  12. Svensson, Lars-Gunnar, 1980. "Equity among Generations," Econometrica, Econometric Society, Econometric Society, vol. 48(5), pages 1251-56, July.
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  14. Michel, Philippe, 1990. "Some Clarifications on the Transversality Condition," Econometrica, Econometric Society, Econometric Society, vol. 58(3), pages 705-23, May.
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  16. KIRMAN, Alan P. & SONDERMANN, Dieter, . "Arrow's theorem, many agents, and indivisible dictators," CORE Discussion Papers RP -118, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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