Geir B. Asheim () (Department of Economics, University of Oslo, Norway) Claude d’Aspremont () (CORE, Universit´e catholique de Louvain, Belgium) Kuntal Banerjee () (Department of Economics, College of Business, Florida Atlantic University)
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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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Paper provided by Department of Economics, College of Business, Florida Atlantic University in its series Working Papers with number
08004.
Asheim, Geir B. & d'Aspremont, Claude & Banerjee, Kuntal, 2008.
"Generalized time-invariant overtaking,"
PIE/CIS Discussion Paper
394, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
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ASHEIM, Geir B. & dÕASPREMONT, Claude & BANERJEE, Kuntal, 2008.
"Generalized time-invariant overtaking,"
CORE Discussion Papers
2008065, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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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
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