The impossibility of social evaluations of infinite streams with strict inequality aversion
We are concerned with the problem of aggregating infinite utility streams and the possible adoption of consequentialist equity principles when using numerical evaluations of the streams. We find a virtually universal incompatibility between the Basu-Mitra approach (that advocates for social welfare functions and renounces continuity assumptions) and postulates that capture various forms of strict preference for a reduction in inequality like the Strong Equity Principle, the Pigou-Dalton Transfer principle, or Altruistic Equity.
|Date of creation:||25 Sep 2011|
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- Ram Sewak Dubey & Tapan Mitra, 2011.
"On equitable social welfare functions satisfying the Weak Pareto Axiom: A complete characterization,"
International Journal of Economic Theory,
The International Society for Economic Theory, vol. 7(3), pages 231-250, 09.
- Dubey, Ram Sewak & Mitra, Tapan, 2010. "On Equitable Social Welfare Functions Satisfying the Weak Pareto Axiom: A Complete Characterimplete Characterization," Working Papers 10-02, Cornell University, Center for Analytic Economics.
- Chiaki Hara & Tomoichi Shinotsuka & Kotaro Suzumura & Yongsheng Xu, 2008. "Continuity and egalitarianism in the evaluation of infinite utility streams," Social Choice and Welfare, Springer, vol. 31(2), pages 179-191, August.
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- Juan A. Crespo & Carmelo Núñez & Juan Pablo Rincón-Zapatero, 2007.
"On the impossibility of representing infinite utility streams,"
Economics Working Papers
we075530, Universidad Carlos III, Departamento de Economía.
- Juan Crespo & Carmelo Nuñez & Juan Rincón-Zapatero, 2009. "On the impossibility of representing infinite utility streams," Economic Theory, Springer, vol. 40(1), pages 47-56, July.
- Alcantud, José Carlos R., 2010. "The compromise efficiency vs. egalitarianism among generations with an infinite horizon," MPRA Paper 22284, University Library of Munich, Germany.
- Sakamoto, Norihito, 2011. "Impossibilities of Paretian Social Welfare Functions for Infinite Utility Streams with Distributive Equity," Discussion Papers 2011-09, Graduate School of Economics, Hitotsubashi University.
- Bossert, Walter & Sprumont, Yves & Suzumura, Kotaro, 2007. "Ordering infinite utility streams," Journal of Economic Theory, Elsevier, vol. 135(1), pages 579-589, July.
- Kaushik Basu & Tapan Mitra, 2003.
"Aggregating Infinite Utility Streams with InterGenerational Equity: The Impossibility of Being Paretian,"
Econometric Society, vol. 71(5), pages 1557-1563, 09.
- Basu, Kaushik & Mitra, Tapan, 2003. "Aggregating Infinite Utility Streams with Inter-generational Equity: The Impossibility of Being Paretian," Working Papers 03-03, Cornell University, Center for Analytic Economics.
- Banerjee, Kuntal, 2006. "On the equity-efficiency trade off in aggregating infinite utility streams," Economics Letters, Elsevier, vol. 93(1), pages 63-67, October.
- Toyotaka Sakai, 2006. "Equitable Intergenerational Preferences on Restricted Domains," Social Choice and Welfare, Springer, vol. 27(1), pages 41-54, August.
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