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
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- Lauwers, Luc, 1998. "Intertemporal objective functions: Strong pareto versus anonymity," Mathematical Social Sciences, Elsevier, vol. 35(1), pages 37-55, January.
- Basu, Kaushik & Mitra, Tapan, 2005. "Possibility Theorems for Aggregating Infinite Utility Streams Equitably," Working Papers 05-05, Cornell University, Center for Analytic Economics.
- 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.
- Geir Asheim & Bertil Tungodden, 2004. "Resolving distributional conflicts between generations," Economic Theory, Springer, vol. 24(1), pages 221-230, 07.
- 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, 2003.
"Aggregating Infinite Utility Streams with Inter-generational Equity: The Impossibility of Being Paretian,"
03-03, Cornell University, Center for Analytic Economics.
- 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.
- Zame, William R., 2007. "Can intergenerational equity be operationalized?," Theoretical Economics, Econometric Society, vol. 2(2), June.
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