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Continuity and equity with infinite horizons

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  • Luc Lauwers

    (Monitoraat ETEW, KU Leuven, Dekenstraat 2, B-3000 Leuven, Belgium)

Abstract

In an infinite dimensional space, e.g. the set of infinite utility streams, there is no natural topology and the content of continuity is manipulable. Different desirable properties induce different topologies. We consider three properties: effectiveness. l1-summability and equity. In view of effectivity, the product topology is the most favourable one. The strict topology is the largest topology for which all the continuous linear maps are l1-summable. However, both topologies are myopic and conflict with the principle of equity. In case equity is desirable, the sup topology comes forward.

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Bibliographic Info

Article provided by Springer in its journal Social Choice and Welfare.

Volume (Year): 14 (1997)
Issue (Month): 2 ()
Pages: 345-356

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Handle: RePEc:spr:sochwe:v:14:y:1997:i:2:p:345-356

Note: Received: 15 April 1993 / Accepted: 22 April 1996
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Cited by:
  1. 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.
  2. repec:ebl:ecbull:v:4:y:2003:i:26:p:1-5 is not listed on IDEAS
  3. Christopher Chambers, 2009. "Intergenerational equity: sup, inf, lim sup, and lim inf," Social Choice and Welfare, Springer, Springer, vol. 32(2), pages 243-252, February.
  4. Asheim,G.B. & Buchholz,W. & Tungodden,B., 1999. "Justifying sustainability," Memorandum 08/1999, Oslo University, Department of Economics.
  5. Jonsson, Adam & Voorneveld, Mark, 2014. "Utilitarianism for infinite utility streams: summable differences and finite averages," Working Paper Series in Economics and Finance 747, Stockholm School of Economics, revised 15 Apr 2014.
  6. Toyotaka Sakai, 2006. "Equitable Intergenerational Preferences on Restricted Domains," Social Choice and Welfare, Springer, Springer, vol. 27(1), pages 41-54, August.
  7. 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.
  8. Chiaki Hara & Tomoichi Shinotsuka & Kotaro Suzumura & Yongsheng Xu, 2008. "Continuity and egalitarianism in the evaluation of infinite utility streams," Social Choice and Welfare, Springer, Springer, vol. 31(2), pages 179-191, August.
  9. Banerjee, Kuntal & Mitra, Tapan, 2004. "On the Continuity of Ethical Social Welfare Orders," Working Papers 04-16, Cornell University, Center for Analytic Economics.
  10. Susumu Cato, 2009. "Characterizing the Nash social welfare relation for infinite utility streams: a note," Economics Bulletin, AccessEcon, vol. 29(3), pages 2372-2379.
  11. Lauwers, Luc, 1998. "Intertemporal objective functions: Strong pareto versus anonymity," Mathematical Social Sciences, Elsevier, vol. 35(1), pages 37-55, January.
  12. Toyotaka Sakai, 2003. "Intergenerational preferences and sensitivity to the present," Economics Bulletin, AccessEcon, vol. 4(26), pages 1-5.

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