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.
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- Chiaki Hara & Tomoichi Shinotsuka & Kotaro Suzumura & Yongsheng Xu, 2008. "Continuity and egalitarianism in the evaluation of infinite utility streams," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 31(2), pages 179-191, August.
- Basu, Kaushik & Mitra, Tapan, 2003.
"Aggregating Infinite Utility Streams with Inter-generational Equity: The Impossibility of Being Paretian,"
03-03, Cornell University, Center for Analytic Economics.
- Kaushik Basu & Tapan Mitra, 2003. "Aggregating Infinite Utility Streams with InterGenerational Equity: The Impossibility of Being Paretian," Econometrica, Econometric Society, vol. 71(5), pages 1557-1563, 09.
- 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.
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