Translation invariance when utility streams are infinite and unbounded
AbstractThe 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 InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 18523.
Date of creation: 04 Nov 2008
Date of revision: 01 Oct 2009
Translation invariance; Infinite utility streams; Utilitarianism; Intergenerational equity;
Other versions of this item:
- Mohamed Ben Ridha Mabrouk, 2011. "Translation invariance when utility streams are infinite and unbounded," International Journal of Economic Theory, The International Society for Economic Theory, vol. 7(4), pages 317-329, December.
- Mabrouk, Mohamed B.R., 2008. "Translation invariance when utility streams are infinite and unbounded," MPRA Paper 17664, University Library of Munich, Germany, revised 05 Oct 2009.
- D99 - Microeconomics - - Intertemporal Choice and Growth - - - Other
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
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