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Intergenerational equity and an explicit construction of welfare criteria

  • Toyotaka Sakai

    ()

Ranking infinite utility streams includes many impossibility results, most involving certain Pareto, anonymity, or continuity requirements. We introduce the concept of the future agreement extension, a method that explicitly extends orderings on finite time horizon to an infinite time horizon. The future agreement extension of given orderings is quasi-transitive, complete, and pairwisely continuous. Furthermore, it is a subrelation of any other pairwisely continuous extension of the orderings. In case of anonymous and strongly Paretian orderings, their future agreement extension is variable step anonymous and strongly Paretian. Characterizations of the future agreement extensions of the utilitarian and leximin orderings are obtained as applications.

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File URL: http://hdl.handle.net/10.1007/s00355-010-0446-9
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Article provided by Springer in its journal Social Choice and Welfare.

Volume (Year): 35 (2010)
Issue (Month): 3 (September)
Pages: 393-414

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Handle: RePEc:spr:sochwe:v:35:y:2010:i:3:p:393-414
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  1. Alcantud, José Carlos R. & García-Sanz, María D., 2010. "Evaluations of infinite utility streams: Pareto-efficient and egalitarian axiomatics," MPRA Paper 20133, University Library of Munich, Germany.
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