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Generalized time-invariant overtaking

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  • Asheim, Geir B.
  • d'Aspremont, Claude
  • Banerjee, Kuntal

Abstract

We present a new version of the overtaking criterion, which we call generalized time-invariant overtaking. The generalized time-invariant overtaking criterion (on the space of infinite utility streams) is defined by extending proliferating sequences of complete and transitive binary relations defined on finite dimensional spaces. The paper presents a general approach that can be specialized to at least two, extensively researched examples, the utilitarian and the leximin orderings on a finite dimensional Euclidean space.

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Bibliographic Info

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

Volume (Year): 46 (2010)
Issue (Month): 4 (July)
Pages: 519-533

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Handle: RePEc:eee:mateco:v:46:y:2010:i:4:p:519-533

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Web page: http://www.elsevier.com/locate/jmateco

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Keywords: Intergenerational justice Utilitarianism Leximin;

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  1. d'Aspremont, Claude & Gevers, Louis, 2002. "Social welfare functionals and interpersonal comparability," Handbook of Social Choice and Welfare, Elsevier, in: K. J. Arrow & A. K. Sen & K. Suzumura (ed.), Handbook of Social Choice and Welfare, edition 1, volume 1, chapter 10, pages 459-541 Elsevier.
  2. M. Fleurbaey & P. Michel, 1997. "Intertemporal equity and the extension of the Ramsey criterion," THEMA Working Papers, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise 97-11, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
  3. Sakai, Toyotaka, 2008. "Intergenerational equity and an explicit construction of welfare criteria," PIE/CIS Discussion Paper, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University 395, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
  4. Claude, d’ASPREMONT, 2005. "Formal welfarism and intergenerational equity," Discussion Papers (ECON - Département des Sciences Economiques), Université catholique de Louvain, Département des Sciences Economiques 2005051, Université catholique de Louvain, Département des Sciences Economiques.
  5. Kamaga, Kohei & Kojima, Takashi, 2008. "On the leximin and utilitarian overtaking criteria with extended anonymity," PIE/CIS Discussion Paper, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University 392, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
  6. Lauwers, Luc, 2010. "Ordering infinite utility streams comes at the cost of a non-Ramsey set," Journal of Mathematical Economics, Elsevier, Elsevier, vol. 46(1), pages 32-37, January.
  7. Basu, Kaushik & Mitra, Tapan, 2003. "Utilitarianism for Infinite Utility Streams: A New Welfare Criterion and Its Axiomatic Characterization," Working Papers, Cornell University, Center for Analytic Economics 03-05, Cornell University, Center for Analytic Economics.
  8. Hammond, Peter J, 1976. "Equity, Arrow's Conditions, and Rawls' Difference Principle," Econometrica, Econometric Society, Econometric Society, vol. 44(4), pages 793-804, July.
  9. Lauwers, Luc & Vallentyne, Peter, 2004. "Infinite Utilitarianism: More Is Always Better," Economics and Philosophy, Cambridge University Press, Cambridge University Press, vol. 20(02), pages 307-330, October.
  10. Basu, Kaushik & Mitra, Tapan, 2005. "On the Existence of Paretian Social Welfare Relations for Infinite Utility Streams with Extended Anonymity," Working Papers, Cornell University, Center for Analytic Economics 05-06, Cornell University, Center for Analytic Economics.
  11. d'ASPREMONT, Claude & GEVERS, Louis, . "Equity and the informational basis of collective choice," CORE Discussion Papers RP, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) -350, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  12. Bossert, Walter & Sprumont, Yves & Suzumura, Kotaro, 2007. "Ordering infinite utility streams," Journal of Economic Theory, Elsevier, Elsevier, vol. 135(1), pages 579-589, July.
  13. Hammond, Peter J, 1979. "Equity in Two Person Situations: Some Consequences," Econometrica, Econometric Society, Econometric Society, vol. 47(5), pages 1127-35, September.
  14. Tjalling C. Koopmans, 1959. "Stationary Ordinal Utility and Impatience," Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University 81, Cowles Foundation for Research in Economics, Yale University.
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  16. Zame, William R., 2007. "Can intergenerational equity be operationalized?," Theoretical Economics, Econometric Society, Econometric Society, vol. 2(2), June.
  17. Basu, Kaushik & Mitra, Tapan, 2005. "Possibility Theorems for Aggregating Infinite Utility Streams Equitably," Working Papers, Cornell University, Center for Analytic Economics 05-05, Cornell University, Center for Analytic Economics.
  18. Kamaga, Kohei & Kojima, Takashi, 2008. "Q-anonymous social welfare relations on infinite utility streams," PIE/CIS Discussion Paper, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University 391, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
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Citations

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Cited by:
  1. repec:ipg:wpaper:2 is not listed on IDEAS
  2. Geir Asheim & Stéphane Zuber, 2013. "A complete and strongly anonymous leximin relation on infinite streams," Social Choice and Welfare, Springer, Springer, vol. 41(4), pages 819-834, October.
  3. Luc Lauwers, 2012. "Intergenerational equity, efficiency, and constructibility," Economic Theory, Springer, Springer, vol. 49(2), pages 227-242, February.
  4. Lombardi, Michele & Miyagishima, Kaname & Veneziani, Roberto, 2013. "Liberal Egalitarianism and the Harm Principle," MPRA Paper 48458, University Library of Munich, Germany.
  5. Mariotti, Marco & Veneziani, Roberto, 2012. "Allocating chances of success in finite and infinite societies: The utilitarian criterion," Journal of Mathematical Economics, Elsevier, Elsevier, vol. 48(4), pages 226-236.
  6. Alain Ayong Le Kama & Thai Ha-Huy & Coung Le Van & Katheline Schubert, 2013. "A Never-decisive and Anonymous Criterion for Optimal Growth Models," Working Papers, Department of Research, Ipag Business School 2013-002, Department of Research, Ipag Business School.
  7. Geir B. Asheim & Kuntal Banerjee, 2009. "Fixed-step anonymous overtaking and catching-up," Working Papers, Department of Economics, College of Business, Florida Atlantic University 09001, Department of Economics, College of Business, Florida Atlantic University.
  8. Jonsson, Adam & Voorneveld, Mark, 2014. "The limit of discounted utilitarianism," Working Paper Series in Economics and Finance, Stockholm School of Economics 748, Stockholm School of Economics, revised 24 Apr 2014.
  9. Alcantud, José Carlos R., 2013. "Fuzzy sets from the ethics of social preferences," MPRA Paper 53549, University Library of Munich, Germany.
  10. Toyotaka Sakai, 2010. "Intergenerational equity and an explicit construction of welfare criteria," Social Choice and Welfare, Springer, Springer, vol. 35(3), pages 393-414, September.
  11. Marcus Pivato, 2014. "Additive representation of separable preferences over infinite products," Theory and Decision, Springer, Springer, vol. 77(1), pages 31-83, June.

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