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Intertemporal equity and the extension of the Ramsey criterion

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  • Fleurbaey, Marc
  • Michel, Philippe

Abstract

We examine social orderings applied to infinite intergenerational consumption paths. Basic dilemmas between several reasonable axioms lead to a taxonomy and characterization of different kinds of orderings, some of which are well known extensions of the Ramsey criterion. We show how filters and ultrafilters can be used to understand the general structure of these extensions and to construct orderings which meet as many axioms as possible.
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  • Fleurbaey, Marc & Michel, Philippe, 2003. "Intertemporal equity and the extension of the Ramsey criterion," Journal of Mathematical Economics, Elsevier, vol. 39(7), pages 777-802, September.
  • Handle: RePEc:eee:mateco:v:39:y:2003:i:7:p:777-802
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