Alcantud, José Carlos R. (2011): The impossibility of social evaluations of infinite streams with strict inequality aversion.
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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.
|Item Type:||MPRA Paper|
|Original Title:||The impossibility of social evaluations of infinite streams with strict inequality aversion|
|Keywords:||Social welfare functions; Strong Equity Principle; Pigou-Dalton Transfer principle; Altruistic Equity; monotonicity|
|Subjects:||D - Microeconomics > D6 - Welfare Economics > D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
D - Microeconomics > D7 - Analysis of Collective Decision-Making > D71 - Social Choice; Clubs; Committees; Associations
D - Microeconomics > D9 - Intertemporal Choice and Growth > D90 - General
|Depositing User:||Jose Carlos R. Alcantud|
|Date Deposited:||25. Sep 2011 19:14|
|Last Modified:||14. Feb 2013 09:13|
Alcantud JCR (2010) The compromise efficiency vs. egalitarianism among generations with an infinite horizon. MPRA Paper No. 22467, http://mpra.ub.uni-muenchen.de/22467/
Alcantud JCR (2011) Inequality averse criteria for evaluating infinite utility streams: The impossibility of Weak Pareto. Journal of Economic Theory, forthcoming.
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