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Generalized time-invariant overtaking

  • Asheim, Geir B.
  • d'Aspremont, Claude
  • Banerjee, Kuntal

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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File URL: http://hermes-ir.lib.hit-u.ac.jp/rs/bitstream/10086/15917/1/pie_dp394.pdf
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Paper provided by Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University in its series PIE/CIS Discussion Paper with number 394.

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Length: 30 p.
Date of creation: Aug 2008
Date of revision:
Handle: RePEc:hit:piecis:394
Note: June 28, 2008
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  1. d’ASPREMONT, Claude, . "Formal welfarism and intergenerational equity," CORE Discussion Papers RP -2047, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. 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.
  3. Tjalling C. Koopmans, 1959. "Stationary Ordinal Utility and Impatience," Cowles Foundation Discussion Papers 81, Cowles Foundation for Research in Economics, Yale University.
  4. 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.
  5. 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.
  6. Basu, Kaushik & Mitra, Tapan, 2007. "Utilitarianism for infinite utility streams: A new welfare criterion and its axiomatic characterization," Journal of Economic Theory, Elsevier, vol. 133(1), pages 350-373, March.
  7. 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.
  8. Lauwers, Luc & Vallentyne, Peter, 2004. "Infinite Utilitarianism: More Is Always Better," Economics and Philosophy, Cambridge University Press, vol. 20(02), pages 307-330, October.
  9. Hammond, Peter J, 1976. "Equity, Arrow's Conditions, and Rawls' Difference Principle," Econometrica, Econometric Society, vol. 44(4), pages 793-804, July.
  10. Zame, William R., 2007. "Can intergenerational equity be operationalized?," Theoretical Economics, Econometric Society, vol. 2(2), June.
  11. Geir Asheim & Bertil Tungodden, 2004. "Resolving distributional conflicts between generations," Economic Theory, Springer, vol. 24(1), pages 221-230, 07.
  12. 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).
  13. Svensson, Lars-Gunnar, 1980. "Equity among Generations," Econometrica, Econometric Society, vol. 48(5), pages 1251-56, July.
  14. d'Aspremont, Claude & Gevers, Louis, 1977. "Equity and the Informational Basis of Collective Choice," Review of Economic Studies, Wiley Blackwell, vol. 44(2), pages 199-209, June.
  15. 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.
  16. 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.
  17. Hammond, Peter J, 1979. "Equity in Two Person Situations: Some Consequences," Econometrica, Econometric Society, vol. 47(5), pages 1127-35, September.
  18. Basu, Kaushik & Mitra, Tapan, 2005. "Possibility Theorems for Aggregating Infinite Utility Streams Equitably," Working Papers 05-05, Cornell University, Center for Analytic Economics.
  19. Bossert, Walter & Sprumont, Yves & Suzumura, Kotaro, 2007. "Ordering infinite utility streams," Journal of Economic Theory, Elsevier, vol. 135(1), pages 579-589, July.
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