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The impossibility of social evaluations of infinite streams with strict inequality aversion

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  • Alcantud, José Carlos R.

Abstract

We are concerned with the problem of aggregating infinite utility streams and the possible adoption of consequentialist equity principles when using numerical evaluations of the streams. We find a virtually universal incompatibility between the Basu-Mitra approach (that advocates for social welfare functions and renounces continuity assumptions) and postulates that capture various forms of strict preference for a reduction in inequality like the Strong Equity Principle, the Pigou-Dalton Transfer principle, or Altruistic Equity.

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File URL: http://mpra.ub.uni-muenchen.de/33716/
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File URL: http://mpra.ub.uni-muenchen.de/44372/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 33716.

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Date of creation: 25 Sep 2011
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Handle: RePEc:pra:mprapa:33716

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Keywords: Social welfare functions; Strong Equity Principle; Pigou-Dalton Transfer principle; Altruistic Equity; monotonicity;

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References

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  1. Juan A. Crespo & Carmelo Núñez & Juan Pablo Rincón-Zapatero, 2007. "On the impossibility of representing infinite utility streams," Economics Working Papers we075530, Universidad Carlos III, Departamento de Economía.
  2. Ram Sewak Dubey & Tapan Mitra, 2011. "On equitable social welfare functions satisfying the Weak Pareto Axiom: A complete characterization," International Journal of Economic Theory, The International Society for Economic Theory, The International Society for Economic Theory, vol. 7(3), pages 231-250, 09.
  3. Hara, Chiaki & Shinotsuka, Tomoichi & Suzumura, Kotaro & Xu, Yongsheng, 2007. "On the Possibility of Continuous, Paretian and Egalitarian Evaluation of Infinite Utility Streams," Discussion Paper, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University 322, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
  4. Basu, Kaushik & Mitra, Tapan, 2003. "Aggregating Infinite Utility Streams with Inter-generational Equity: The Impossibility of Being Paretian," Working Papers, Cornell University, Center for Analytic Economics 03-03, Cornell University, Center for Analytic Economics.
  5. 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.
  6. Banerjee, Kuntal, 2006. "On the equity-efficiency trade off in aggregating infinite utility streams," Economics Letters, Elsevier, Elsevier, vol. 93(1), pages 63-67, October.
  7. Bossert, Walter & Sprumont, Yves & Suzumura, Kotaro, 2007. "Ordering infinite utility streams," Journal of Economic Theory, Elsevier, Elsevier, vol. 135(1), pages 579-589, July.
  8. 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.
  9. Alcantud, José Carlos R., 2010. "The compromise efficiency vs. egalitarianism among generations with an infinite horizon," MPRA Paper 22284, University Library of Munich, Germany.
  10. Toyotaka Sakai, 2006. "Equitable Intergenerational Preferences on Restricted Domains," Social Choice and Welfare, Springer, Springer, vol. 27(1), pages 41-54, August.
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Cited by:
  1. Michele Lombardi & Roberto Veneziani, 2009. "Liberal Egalitarianism and the Harm Principle," Global COE Hi-Stat Discussion Paper Series, Institute of Economic Research, Hitotsubashi University gd09-078, Institute of Economic Research, Hitotsubashi University.

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