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Generalized time-invariant overtaking

  • Geir B. , ASHEIM
  • Claude, DASPREMONT

    (UNIVERSITE CATHOLIQUE DE LOUVAIN, Department of Economics)

  • Kuntal, BANERJEE

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.

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Paper provided by Université catholique de Louvain, Département des Sciences Economiques in its series Discussion Papers (ECON - Département des Sciences Economiques) with number 2008039.

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Length: 37
Date of creation: 21 Jan 2008
Date of revision:
Handle: RePEc:ctl:louvec:2008039
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  1. d’ASPREMONT, Claude, 2005. "Formal welfarism and intergenerational equity," CORE Discussion Papers 2005075, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Kamaga, Kohei & Kojima, Takashi, 2008. "On the leximin and utilitarian overtaking criteria with extended anonymity," PIE/CIS Discussion Paper 392, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
  3. Zame, William R., 2007. "Can intergenerational equity be operationalized?," Theoretical Economics, Econometric Society, vol. 2(2), June.
  4. 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.
  5. Basu, Kaushik & Mitra, Tapan, 2003. "Utilitarianism for Infinite Utility Streams: A New Welfare Criterion and Its Axiomatic Characterization," Working Papers 03-05, Cornell University, Center for Analytic Economics.
  6. Luc LAUWERS, 2009. "Ordering infinite utility streams comes at the cost of a non-Ramsey set," Center for Economic Studies - Discussion papers ces09.05, Katholieke Universiteit Leuven, Centrum voor Economische Studiën.
  7. Hammond, Peter J, 1976. "Equity, Arrow's Conditions, and Rawls' Difference Principle," Econometrica, Econometric Society, vol. 44(4), pages 793-804, July.
  8. Tjalling C. Koopmans, 1959. "Stationary Ordinal Utility and Impatience," Cowles Foundation Discussion Papers 81, Cowles Foundation for Research in Economics, Yale University.
  9. Basu, Kaushik & Mitra, Tapan, 2005. "Possibility Theorems for Aggregating Infinite Utility Streams Equitably," Working Papers 05-05, Cornell University, Center for Analytic Economics.
  10. Lauwers, Luc & Vallentyne, Peter, 2004. "Infinite Utilitarianism: More Is Always Better," Economics and Philosophy, Cambridge University Press, vol. 20(02), pages 307-330, October.
  11. Sakai, Toyotaka, 2008. "Intergenerational equity and an explicit construction of welfare criteria," PIE/CIS Discussion Paper 395, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
  12. M. Fleurbaey & P. Michel, 1997. "Intertemporal equity and the extension of the Ramsey criterion," THEMA Working Papers 97-11, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
  13. Svensson, Lars-Gunnar, 1980. "Equity among Generations," Econometrica, Econometric Society, vol. 48(5), pages 1251-56, July.
  14. d'ASPREMONT, Claude & GEVERS, Louis, . "Equity and the informational basis of collective choice," CORE Discussion Papers RP -350, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  15. D'ASPREMONT, Claude & GEVERS, Louis, . "Social welfare functionals and interpersonal comparability," CORE Discussion Papers RP -1564, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  16. Kamaga, Kohei & Kojima, Takashi, 2008. "Q-anonymous social welfare relations on infinite utility streams," PIE/CIS Discussion Paper 391, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
  17. Bossert, Walter & Sprumont, Yves & Suzumura, Kotaro, 2007. "Ordering infinite utility streams," Journal of Economic Theory, Elsevier, vol. 135(1), pages 579-589, July.
  18. Hammond, Peter J, 1979. "Equity in Two Person Situations: Some Consequences," Econometrica, Econometric Society, vol. 47(5), pages 1127-35, September.
  19. Geir Asheim & Bertil Tungodden, 2004. "Resolving distributional conflicts between generations," Economic Theory, Springer, vol. 24(1), pages 221-230, 07.
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