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Multi-Profile Intergenerational Social Choice

Author

Listed:
  • Bossert, Walter
  • Suzumura, Kotaro
  • 鈴村, 興太郎
  • スズムラ, コウタロウ

Abstract

Ferejohn and Page transplanted a stationarity axiom from Koopmans' theory of impatience into Arrow's social choice theory with an infinite horizon and showed that the Arrow axioms and stationarity lead to a dictatorship by the first generation. We prove that the negative implications of their stationarity axiom are more far-reaching: there is no Arrow social welfare function satisfying their stationarity axiom. We propose a more suitable stationarity axiom, and show that an Arrow social welfare function satisfies this modified version if and only if it is a lexicographic dictatorship where the generations are taken into consideration in chronological order.

Suggested Citation

  • Bossert, Walter & Suzumura, Kotaro & 鈴村, 興太郎 & スズムラ, コウタロウ, 2008. "Multi-Profile Intergenerational Social Choice," PIE/CIS Discussion Paper 380, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
    • Handle: RePEc:hit:piecis:380
    Note: This version: June 5, 2008
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    Cited by:

    1. Shino Takayama & Akira Yokotani, 2017. "Social choice correspondences with infinitely many agents: serial dictatorship," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 48(3), pages 573-598, March.
    2. Susumu Cato, 2013. "Social choice, the strong Pareto principle, and conditional decisiveness," Theory and Decision, Springer, vol. 75(4), pages 563-579, October.
    3. Susumu Cato, 2022. "Stable preference aggregation with infinite population," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 59(2), pages 287-304, August.
    4. Cato, Susumu, 2021. "Preference aggregation and atoms in measures," Journal of Mathematical Economics, Elsevier, vol. 94(C).
    5. Walter Bossert & Kotaro Suzumura, 2012. "Multi-Profile Intertemporal Social Choice," Cahiers de recherche 09-2012, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    6. Bossert, Walter & Suzumura, Kotaro & 鈴村, 興太郎 & スズムラ, コウタロウ, 2009. "Decisive coalitions and coherence properties," PIE/CIS Discussion Paper 427, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
    7. Chichilnisky, Graciela & Hammond, Peter J. & Stern, Nicholas, 2018. "Should We Discount the Welfare of Future Generations? Ramsey and Suppes versus Koopmans and Arrow," CAGE Online Working Paper Series 386, Competitive Advantage in the Global Economy (CAGE).
    8. Susumu Cato, 2020. "Quasi-stationary social welfare functions," Theory and Decision, Springer, vol. 89(1), pages 85-106, July.

    More about this item

    Keywords

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    JEL classification:

    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations

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