On the impossibility of representing infinite utility streams
We show that, independently of the topology chosen on the set of all infinity utility streams, there is no Social Welfare Function preserving the von Weizsäcker’s overtaking criterion. With our proof we extend the impossibility result of Basu and Mitra.
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Volume (Year): 40 (2009)
Issue (Month): 1 (July)
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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.:
- Geir Asheim & Bertil Tungodden, 2004. "Resolving distributional conflicts between generations," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 24(1), pages 221-230, 07.
- Kaushik Basu & Tapan Mitra, 2003.
"Aggregating Infinite Utility Streams with InterGenerational Equity: The Impossibility of Being Paretian,"
Econometric Society, vol. 71(5), pages 1557-1563, 09.
- Basu, Kaushik & Mitra, Tapan, 2003. "Aggregating Infinite Utility Streams with Inter-generational Equity: The Impossibility of Being Paretian," Working Papers 03-03, Cornell University, Center for Analytic Economics.
- Lauwers, Luc, 1998. "Intertemporal objective functions: Strong pareto versus anonymity," Mathematical Social Sciences, Elsevier, vol. 35(1), pages 37-55, January.
- Zame, William R., 2007. "Can intergenerational equity be operationalized?," Theoretical Economics, Econometric Society, vol. 2(2), June.
- Basu, Kaushik & Mitra, Tapan, 2005. "On the Existence of Paretian Social Welfare Relations for Infinite Utility Streams with Extended Anonymity," Working Papers 05-06, Cornell University, Center for Analytic Economics.
- Tjalling C. Koopmans, 1959. "Stationary Ordinal Utility and Impatience," Cowles Foundation Discussion Papers 81, Cowles Foundation for Research in Economics, Yale University.
- Basu, Kaushik & Mitra, Tapan, 2005. "Possibility Theorems for Aggregating Infinite Utility Streams Equitably," Working Papers 05-05, Cornell University, Center for Analytic Economics.
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