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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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File URL: http://hermes-ir.lib.hit-u.ac.jp/rs/bitstream/10086/15917/1/pie_dp394.pdf
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Bibliographic Info

Paper provided by Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University in its series PIE/CIS Discussion Paper with number 394.

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Length: 30 p.
Date of creation: Aug 2008
Date of revision:
Handle: RePEc:hit:piecis:394

Note: June 28, 2008
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Keywords: Intergenerational justice; Utilitarianism; Leximin;

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References

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  1. D'ASPREMONT, Claude & GEVERS, Louis, . "Social welfare functionals and interpersonal comparability," CORE Discussion Papers RP -1564, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Basu, Kaushik & Mitra, Tapan, 2005. "Possibility Theorems for Aggregating Infinite Utility Streams Equitably," Working Papers 05-05, Cornell University, Center for Analytic Economics.
  3. Basu, Kaushik & Mitra, Tapan, 2007. "Utilitarianism for infinite utility streams: A new welfare criterion and its axiomatic characterization," Journal of Economic Theory, Elsevier, vol. 133(1), pages 350-373, March.
  4. Kohei Kamaga & Takashi Kojima, 2010. "On the leximin and utilitarian overtaking criteria with extended anonymity," Social Choice and Welfare, Springer, vol. 35(3), pages 377-392, September.
  5. Lauwers, Luc & Vallentyne, Peter, 2004. "Infinite Utilitarianism: More Is Always Better," Economics and Philosophy, Cambridge University Press, vol. 20(02), pages 307-330, October.
  6. FLEURBAEY, Marc & MICHEL, Philippe, 1997. "Intertemporal equity and the extension of the Ramsey criterion," CORE Discussion Papers 1997004, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  7. Hammond, Peter J, 1976. "Equity, Arrow's Conditions, and Rawls' Difference Principle," Econometrica, Econometric Society, vol. 44(4), pages 793-804, July.
  8. Hammond, Peter J, 1979. "Equity in Two Person Situations: Some Consequences," Econometrica, Econometric Society, vol. 47(5), pages 1127-35, September.
  9. d’ASPREMONT, Claude, . "Formal welfarism and intergenerational equity," CORE Discussion Papers RP -2047, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  10. Lauwers, Luc, 2010. "Ordering infinite utility streams comes at the cost of a non-Ramsey set," Journal of Mathematical Economics, Elsevier, vol. 46(1), pages 32-37, January.
  11. Sakai, Toyotaka, 2008. "Intergenerational equity and an explicit construction of welfare criteria," PIE/CIS Discussion Paper 395, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
  12. d'Aspremont, Claude & Gevers, Louis, 1977. "Equity and the Informational Basis of Collective Choice," Review of Economic Studies, Wiley Blackwell, vol. 44(2), pages 199-209, June.
  13. Zame, William R., 2007. "Can intergenerational equity be operationalized?," Theoretical Economics, Econometric Society, vol. 2(2), June.
  14. Svensson, Lars-Gunnar, 1980. "Equity among Generations," Econometrica, Econometric Society, vol. 48(5), pages 1251-56, July.
  15. Bossert, Walter & Sprumont, Yves & Suzumura, Kotaro, 2007. "Ordering infinite utility streams," Journal of Economic Theory, Elsevier, vol. 135(1), pages 579-589, July.
  16. Kamaga, Kohei & Kojima, Takashi, 2008. "Q-anonymous social welfare relations on infinite utility streams," PIE/CIS Discussion Paper 391, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
  17. Tjalling C. Koopmans, 1959. "Stationary Ordinal Utility and Impatience," Cowles Foundation Discussion Papers 81, Cowles Foundation for Research in Economics, Yale University.
  18. Geir Asheim & Bertil Tungodden, 2004. "Resolving distributional conflicts between generations," Economic Theory, Springer, vol. 24(1), pages 221-230, 07.
  19. Basu, Kaushik & Mitra, Tapan, 2005. "On the Existence of Paretian Social Welfare Relations for Infinite Utility Streams with Extended Anonymity," Working Papers 05-06, Cornell University, Center for Analytic Economics.
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Citations

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Cited by:
  1. Sakai, Toyotaka, 2008. "Intergenerational equity and an explicit construction of welfare criteria," PIE/CIS Discussion Paper 395, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
  2. Lombardi, Michele & Miyagishima, Kaname & Veneziani, Roberto, 2013. "Liberal Egalitarianism and the Harm Principle," MPRA Paper 48458, University Library of Munich, Germany.
  3. Geir B. Asheim & Kuntal Banerjee, 2009. "Fixed-step anonymous overtaking and catching-up," Working Papers 09001, Department of Economics, College of Business, Florida Atlantic University.
  4. Jonsson, Adam & Voorneveld, Mark, 2014. "The limit of discounted utilitarianism," Working Paper Series in Economics and Finance 748, Stockholm School of Economics, revised 24 Apr 2014.
  5. repec:ipg:wpaper:2 is not listed on IDEAS
  6. Geir B. Asheim & Stéphane Zuber, 2011. "A Complete and Strongly Anonymous Leximin Relation on Infinite Streams," CESifo Working Paper Series 3578, CESifo Group Munich.
  7. 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 2013-002, Department of Research, Ipag Business School.
  8. Mariotti, Marco & Veneziani, Roberto, 2012. "Allocating chances of success in finite and infinite societies: The utilitarian criterion," Journal of Mathematical Economics, Elsevier, vol. 48(4), pages 226-236.
  9. Luc LAUWERS, 2010. "Intergenerational equity, efficiency and constructability," Center for Economic Studies - Discussion papers ces10.22, Katholieke Universiteit Leuven, Centrum voor Economische Studiën.
  10. Alcantud, José Carlos R., 2013. "Fuzzy sets from the ethics of social preferences," MPRA Paper 53549, University Library of Munich, Germany.
  11. Marcus Pivato, 2014. "Additive representation of separable preferences over infinite products," Theory and Decision, Springer, vol. 77(1), pages 31-83, June.

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