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Paretian evaluation of infinite utility streams: an egalitarian criterion

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Author Info
Alcantud, José C. R.
García-Sanz, María D.

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Abstract

This paper contributes to qualifying the Basu-Mitra approach to the problem of intergenerational social choice, by analyzing the impact of the structure of the feasible set of utilities on Banerjee's (2006) impossibility theorem. We prove that if the utilities that each generation can possess lie in $\NN \cup \{0\} $, then an explicit expression for a Paretian social welfare function that accounts for a strengthened form of Hammond Equity for the Future can be given.

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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 6288.

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Date of creation: 17 Dec 2007
Date of revision: 25 Feb 2008
Handle: RePEc:pra:mprapa:6288

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Related research
Keywords: Social welfare function Equity Pareto axiom Intergenerational utility

Find related papers by JEL classification:
D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Asheim, Geir B. & Tungodden, Bertil, 2005. "A new equity condition for infinite utility streams and the possibility of being Paretian," Memorandum 08/2005, Oslo University, Department of Economics. [Downloadable!]
  2. Kaushik Basu & Tapan Mitra, 2003. "Aggregating Infinite Utility Streams with InterGenerational Equity: The Impossibility of Being Paretian," Econometrica, Econometric Society, vol. 71(5), pages 1557-1563, 09. [Downloadable!] (restricted)
  3. Zame, William R., 2007. "Can intergenerational equity be operationalized?," Theoretical Economics, Society for Economic Theory, vol. 2(2), pages 187-202, June. [Downloadable!]
  4. Banerjee, Kuntal, 2006. "On the equity-efficiency trade off in aggregating infinite utility streams," Economics Letters, Elsevier, vol. 93(1), pages 63-67, October. [Downloadable!] (restricted)
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