Mabrouk, Mohamed (2006): Allaisanonymity as an alternative to the discountedsum criterion in the calculus of optimal growth II: Pareto optimality and some economic interpretations.

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Abstract
This paper studies the Paretooptimality of the consensual optimum established in "Allaisanonymity as an alternative to the discountedsum criterion I: consensual optimality" (Mabrouk 2006a). For that, a Paretooptimality criterion is set up by the application of the generalized Karush, Kuhn and Tucker theorem and thanks to the decomposition of the space of geometricallygrowing real sequences. That makes it possible to find sufficient conditions so that a bequestrule path is Paretooptimal. Through an example, it is then shown that the golden rule must be checked to achieve Allaisanonymous optimality. The introduction of an additive altruism makes it possible to highlight the intergenerationalpreference rate compatible with Allaisanonymous optimality. In this approach, it is not any more the optimality which depends on the intergenerationalpreference rate, but the optimal intergenerationalpreference rate which rises from Allaisanonymous optimality.
Item Type:  MPRA Paper 

Original Title:  Allaisanonymity as an alternative to the discountedsum criterion in the calculus of optimal growth II: Pareto optimality and some economic interpretations 
Language:  English 
Keywords:  Intergenerational anonymity; Allaisanonymity; Intergenerational equity; Optimal growth; Technical change; Timepreference; Discountedsum criterion; Consensual criterion; Paretooptimality; OG economy. 
Subjects:  O  Economic Development, Technological Change, and Growth > O4  Economic Growth and Aggregate Productivity > O41  One, Two, and Multisector Growth Models D  Microeconomics > D7  Analysis of Collective DecisionMaking > D71  Social Choice; Clubs; Committees; Associations D  Microeconomics > D6  Welfare Economics > D63  Equity, Justice, Inequality, and Other Normative Criteria and Measurement O  Economic Development, Technological Change, and Growth > O3  Technological Change; Research and Development; Intellectual Property Rights > O30  General D  Microeconomics > D9  Intertemporal Choice and Growth > D90  General C  Mathematical and Quantitative Methods > C6  Mathematical Methods; Programming Models; Mathematical and Simulation Modeling > C61  Optimization Techniques; Programming Models; Dynamic Analysis 
Item ID:  15475 
Depositing User:  Mohamed ben Ridha Mabrouk 
Date Deposited:  03. Jun 2009 00:13 
Last Modified:  25. Feb 2013 09:35 
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URI:  http://mpra.ub.unimuenchen.de/id/eprint/15475 