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Paretian evaluation of infinite utility streams: an egalitarian criterion

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  • Alcantud, José Carlos R.
  • García-Sanz, María D.

Abstract

This paper contributes to qualifying the Basu-Mitra approach to the problem of intergenerational social choice, by analyzing the impact of the structure of the feasible set of utilities on Banerjee's (2006) impossibility theorem. We prove that if the utilities that each generation can possess lie in $\NN \cup \{0\} $, then an explicit expression for a Paretian social welfare function that accounts for a strengthened form of Hammond Equity for the Future can be given.

Suggested Citation

  • Alcantud, José Carlos R. & García-Sanz, María D., 2007. "Paretian evaluation of infinite utility streams: an egalitarian criterion," MPRA Paper 6324, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:6324
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    File URL: https://mpra.ub.uni-muenchen.de/6324/1/MPRA_paper_6324.pdf
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    References listed on IDEAS

    as
    1. 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, September.
    2. Banerjee, Kuntal, 2006. "On the equity-efficiency trade off in aggregating infinite utility streams," Economics Letters, Elsevier, vol. 93(1), pages 63-67, October.
    3. Lauwers, Luc, 1998. "Intertemporal objective functions: Strong pareto versus anonymity," Mathematical Social Sciences, Elsevier, vol. 35(1), pages 37-55, January.
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    Cited by:

    1. Alcantud, José Carlos R., 2012. "Inequality averse criteria for evaluating infinite utility streams: The impossibility of Weak Pareto," Journal of Economic Theory, Elsevier, vol. 147(1), pages 353-363.
    2. Alcantud, José Carlos R., 2013. "Fuzzy sets from the ethics of social preferences," MPRA Paper 53549, University Library of Munich, Germany.
    3. Geir Asheim & Tapan Mitra & Bertil Tungodden, 2012. "Sustainable recursive social welfare functions," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 49(2), pages 267-292, February.
    4. José Carlos R. Alcantud & María D. García-Sanz, 2013. "Evaluations of Infinite Utility Streams: Pareto Efficient and Egalitarian Axiomatics," Metroeconomica, Wiley Blackwell, vol. 64(3), pages 432-447, July.
    5. Alcantud, José Carlos R., 2010. "The compromise efficiency vs. egalitarianism among generations with an infinite horizon," MPRA Paper 22284, University Library of Munich, Germany.

    More about this item

    Keywords

    Social welfare function; Equity; Pareto axiom; Intergenerational utility;

    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement

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