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Translation invariance when utility streams are infinite and unbounded

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  • Mabrouk, Mohamed B.R.

Abstract

The axiom translation invariance consists in asserting the invariance of the ranking of two utility streams if one applies the same translation to both. This axiom is significant in the characterization of utilitarian criteria in finite dimension. This characterization is achieved thanks to the "weak weighted utilitarianism theorem".The objective here is to propose a generalization of this theorem in a space of infinite and unbounded utility streams. A consequence of the suggested generalization is that, in the context of intergenerational choice, every maximal point with respect to a paretian utilitarian order granting comparable considerations to the present and the future, is also a maximal point with respect to some future-oriented criterion.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 17664.

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Date of creation: Dec 2008
Date of revision: 05 Oct 2009
Handle: RePEc:pra:mprapa:17664

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Keywords: Translation invariance; Infinite utility streams; Utilitarianism; Intergenerational equity;

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  1. LE VAN, Cuong & SAGLAM, Cagri, 2003. "Optimal growth models and the Lagrange multiplier," CORE Discussion Papers 2003083, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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  6. Chichilnisky, Graciela, 1995. "An axiomatic approach to sustainable development," MPRA Paper 8609, University Library of Munich, Germany.
  7. 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.
  8. Svensson, Lars-Gunnar, 1980. "Equity among Generations," Econometrica, Econometric Society, vol. 48(5), pages 1251-56, July.
  9. Lauwers, Luc & Vallentyne, Peter, 2004. "Infinite Utilitarianism: More Is Always Better," Economics and Philosophy, Cambridge University Press, vol. 20(02), pages 307-330, October.
  10. Lauwers, Luc, 1998. "Intertemporal objective functions: Strong pareto versus anonymity," Mathematical Social Sciences, Elsevier, vol. 35(1), pages 37-55, January.
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