Fleurbaey–Michel conjecture on equitable weak Paretian social welfare order
The paper examines the problem of explicit description of a social welfare order over infinite utility streams, which respects anonymity and weak Pareto axioms. It provides a complete characterization of the domains of one period utilities, for which it is possible to explicitly describe a weak Paretian social welfare order satisfying the anonymity axiom. For domains containing any set of order type similar to the set of positive and negative integers, every equitable social welfare order satisfying the weak Pareto axiom is non-constructive. The paper resolves a conjecture by Fleurbaey and Michel (2003) that there exists no explicit (that is, avoiding the axiom of choice or similar contrivances) description of an ordering which satisfies weak Pareto and indifference to finite permutations. It also provides an interesting connection between the existence of social welfare function and the constructive nature of social welfare order by showing that the domain restrictions for the two are identical.
Volume (Year): 47 (2011)
Issue (Month): 4-5 ()
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- Kaushik Basu & Tapan Mitra, 2003.
"Aggregating Infinite Utility Streams with InterGenerational Equity: The Impossibility of Being Paretian,"
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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.
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- 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, vol. 7(3), pages 231-250, 09.
- Dubey, Ram Sewak & Mitra, Tapan, 2010. "On Equitable Social Welfare Functions Satisfying the Weak Pareto Axiom: A Complete Characterimplete Characterization," Working Papers 10-02, Cornell University, Center for Analytic Economics.
- Juan Crespo & Carmelo Nuñez & Juan Rincón-Zapatero, 2009. "On the impossibility of representing infinite utility streams," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 40(1), pages 47-56, July.
- Rincón-Zapatero, Juan Pablo & Núñez, Carmelo & Crespo, Juan A., 2007. "On the impossibility of representing infinite utility streams," UC3M Working papers. Economics we075530, Universidad Carlos III de Madrid. Departamento de Economía.
- Lauwers, Luc, 2010. "Ordering infinite utility streams comes at the cost of a non-Ramsey set," Journal of Mathematical Economics, Elsevier, vol. 46(1), pages 32-37, January.
- Luc LAUWERS, 2009. "Ordering infinite utility streams comes at the cost of a non-Ramsey set," Working Papers Department of Economics ces09.05, KU Leuven, Faculty of Economics and Business, Department of Economics.
- Svensson, Lars-Gunnar, 1980. "Equity among Generations," Econometrica, Econometric Society, vol. 48(5), pages 1251-1256, July. Full references (including those not matched with items on IDEAS)
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