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Generalized time-invariant overtaking

Author

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  • ASHEIM, Geir B.
  • d’ASPREMONT, Claude

    (Université catholique de Louvain (UCL). Center for Operations Research and Econometrics (CORE))

  • BANERJEE, Kuntal

Abstract

We present a new version of the overtaking criterion, which we call generalized time invariant overtaking. The generalized time-invariant overtaking criterion (on the space of infinite utility streams) is defined by extending proliferating sequences of complete and transitive binary relations defined on finite dimensional spaces. The paper presents a general approach that can be specialized to at least two, extensively researched examples, the utilitarian and the leximin orderings on a finite dimensional Euclidean space.

Suggested Citation

  • ASHEIM, Geir B. & d’ASPREMONT, Claude & BANERJEE, Kuntal, 2008. "Generalized time-invariant overtaking," LIDAM Discussion Papers CORE 2008065, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvco:2008065
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    References listed on IDEAS

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    16. 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.
    17. Kaushik Basu & Tapan Mitra, 2007. "Possibility Theorems for Equitably Aggregating Infinite Utility Streams," International Economic Association Series, in: John Roemer & Kotaro Suzumura (ed.), Intergenerational Equity and Sustainability, chapter 5, pages 69-84, Palgrave Macmillan.
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    Citations

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    Cited by:

    1. Alcantud, José Carlos R., 2013. "Fuzzy sets from the ethics of social preferences," MPRA Paper 53549, University Library of Munich, Germany.
    2. Jonsson, Adam & Voorneveld, Mark, 2018. "The limit of discounted utilitarianism," Theoretical Economics, Econometric Society, vol. 13(1), January.
    3. Marcus Pivato, 2014. "Additive representation of separable preferences over infinite products," Theory and Decision, Springer, vol. 77(1), pages 31-83, June.
    4. Geir Asheim & Stéphane Zuber, 2013. "A complete and strongly anonymous leximin relation on infinite streams," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 41(4), pages 819-834, October.
    5. Alain Ayong Le Kama & Thai Ha-Huy & Cuong Le Van & Katheline Schubert, 2014. "A never-decisive and anonymous criterion for optimal growth models," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 55(2), pages 281-306, February.
    6. repec:ipg:wpaper:2 is not listed on IDEAS
    7. repec:hal:pseose:hal-01044568 is not listed on IDEAS
    8. Geir B. Asheim & Kuntal Banerjee, 2010. "Fixed‐step anonymous overtaking and catching‐up," International Journal of Economic Theory, The International Society for Economic Theory, vol. 6(1), pages 149-165, March.
    9. Michele Lombardi & Kaname Miyagishima & Roberto Veneziani, 2016. "Liberal Egalitarianism and the Harm Principle," Economic Journal, Royal Economic Society, vol. 126(597), pages 2173-2196, November.
    10. Toyotaka Sakai, 2010. "Intergenerational equity and an explicit construction of welfare criteria," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 35(3), pages 393-414, September.
    11. Luc Lauwers, 2016. "Intergenerational Equity, Efficiency, and Constructibility," Studies in Economic Theory, in: Graciela Chichilnisky & Armon Rezai (ed.), The Economics of the Global Environment, pages 191-206, Springer.
    12. Toyotaka Sakai, 2016. "Limit representations of intergenerational equity," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 47(2), pages 481-500, August.
    13. repec:ipg:wpaper:2013-002 is not listed on IDEAS
    14. Jeremy Goodman & Harvey Lederman, 2024. "Maximal Social Welfare Relations on Infinite Populations Satisfying Permutation Invariance," Papers 2408.05851, arXiv.org, revised Nov 2024.
    15. Adam Jonsson, 2023. "An axiomatic approach to Markov decision processes," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 97(1), pages 117-133, February.
    16. Kohei Kamaga, 2016. "Infinite-horizon social evaluation with variable population size," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 47(1), pages 207-232, June.
    17. Mariotti, Marco & Veneziani, Roberto, 2012. "Allocating chances of success in finite and infinite societies: The utilitarian criterion," Journal of Mathematical Economics, Elsevier, vol. 48(4), pages 226-236.

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    More about this item

    Keywords

    intergenerational justice; utilitarianism; leximin.;
    All these keywords.

    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations

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