Impossibilities Of Paretian Social Welfare Functions For Infinite Utility Streams With Distributive Equity
AbstractThis paper examines the existence of social welfare functions satisfying some reasonable axioms of distributive equity and Pareto efficiency in aggregating infinite utility streams. Our main results show that there exist social welfare functions that satisfy both the Pigou-Dalton transfer principle and weak dominance.a weak version of the Pareto principle., but there exists no social welfare function that satisfies any of our distributive equity axioms and weak Pareto principle simultaneously. Thus, we prove that no Paretian ranking can satisfy numerical representability and any of distributive equity axioms in the setting of intertemporal social choice.
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Bibliographic InfoArticle provided by Hitotsubashi University in its journal Hitotsubashi Journal of Economics.
Volume (Year): 53 (2012)
Issue (Month): 2 (December)
intergenerational equity; distributional equity;
Find related papers by JEL classification:
- 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
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Alcantud, José Carlos R., 2010.
"Inequality averse criteria for evaluating infinite utility streams: The impossibility of Weak Pareto,"
27618, University Library of Munich, Germany.
- 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.
- Alcantud, José Carlos R., 2010. "The compromise efficiency vs. egalitarianism among generations with an infinite horizon," MPRA Paper 22284, University Library of Munich, Germany.
- 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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