Mabrouk, Mohamed B.R. (2008): Translation invariance when utility streams are infinite and unbounded.

PDF
MPRA_paper_17664.pdf Download (215kB)  Preview 
Abstract
The axiom translation invariance consists in asserting the invariance of the ranking of two utility streams if one applies the same translation to both. This axiom is significant in the characterization of utilitarian criteria in finite dimension. This characterization is achieved thanks to the "weak weighted utilitarianism theorem".The objective here is to propose a generalization of this theorem in a space of infinite and unbounded utility streams. A consequence of the suggested generalization is that, in the context of intergenerational choice, every maximal point with respect to a paretian utilitarian order granting comparable considerations to the present and the future, is also a maximal point with respect to some futureoriented criterion.
Item Type:  MPRA Paper 

Original Title:  Translation invariance when utility streams are infinite and unbounded 
English Title:  Translation invariance when utility streams are infinite and unbounded 
Language:  English 
Keywords:  Translation invariance; Infinite utility streams; Utilitarianism; Intergenerational equity 
Subjects:  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 D  Microeconomics > D9  Intertemporal Choice > D99  Other C  Mathematical and Quantitative Methods > C6  Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C61  Optimization Techniques ; Programming Models ; Dynamic Analysis 
Item ID:  17664 
Depositing User:  Mohamed ben Ridha Mabrouk 
Date Deposited:  06. Oct 2009 09:13 
Last Modified:  23. Feb 2013 18:52 
References:  1 : D'Aspremont, C. and Gevers, L. (1977) "Equity and the informational basis of collective choice," Review of Economic studies 44, 199209. 2 : D'Aspremont, C. and Gevers, L. (2002) "Social welfare functionals and interpersonal comparability," Arrow, K. Sen A. and Suzumura K. eds, Handbook of social choice and welfare, 459541, vol I, Elsevier, Amsterdam. 3 : Banerjee, K. (2006) "On the extension of the utilitarian and SuppesSen social welfare relations to infinite utility streams," Social Choice and Welfare 27, 327329. 4 : Basu, K. and Mitra, T. (2007a) "Utilitarianism for infinite utility streams: A new welfare criterion and its axiomatic characterization," Journal of Economic Theory 133, 350373. 5 : Basu, K. and Mitra, T. (2007b) "Possibility theorems for equitably aggregating infinite utility streams," Roemer, J. and Suzumura, K. eds, Intergenerational equity and sustainability, 6984, Palgrave Macmillan. 6 : Chichilnisky, G. (1996) "An axiomatic approach to sustainable development," Social Choice and Welfare 14, 231257. 7 : Fleurbaey, M. and Michel, P. (2003) "Intertemporal equity and the extension of the Ramsey criterion," Journal of Mathematical Economics 39, 777802. 8 : Le Van, C. and Saglam H.C. (2004) "Optimal growth models and the Lagrange multiplier," Journal of Mathematical Economics 40, 393410. 9 : Lauwers, L. (1998) "Intertemporal objective functions: Strong Pareto versus anonymity," Mathematical Social Science 35, 3755. 10 : Lauwers, L. and Vallentyne, P. (2004) "Infinite utilitarianism: More is always better," Economics and Philosophy 20, 307330. 11 : Luenberger, D. (1968), Optimization by vector spaces, WileyInterscience, New Ed edition. 12 : Mitra, T. and Basu, K. (2007) "On the existence of Paretian social welfare quasi orderings for infinite utility streams with extended anonymity," Roemer, J. and Suzumura, K. eds, Intergenerational equity and sustainability, 6984, Palgrave Macmillan. 13 : Svensson, L. G. (1980) "Equity among generations," Econometrica 48, 12511256. 14 : Weibull J.W. (1985) "Discountedvalue representations of temporal preferences," Mathematics of Operational Research 10, 244250. 
URI:  https://mpra.ub.unimuenchen.de/id/eprint/17664 