Alcantud, José Carlos R. (2011): The impossibility of social evaluations of infinite streams with strict inequality aversion.
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Abstract
We are concerned with the problem of aggregating infinite utility streams and the possible adoption of consequentialist equity principles. 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. We also prove that the Hara-Shinotsuka-Suzumura-Xu impossibility for semicontinuous social welfare relations remains under the latter distributional postulate.
Item Type: | MPRA Paper |
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Original Title: | The impossibility of social evaluations of infinite streams with strict inequality aversion |
Language: | English |
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 > D90 - General |
Item ID: | 44372 |
Depositing User: | Jose Carlos R. Alcantud |
Date Deposited: | 18 Feb 2013 14:12 |
Last Modified: | 26 Sep 2019 19:32 |
References: | 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 (2012) Inequality averse criteria for evaluating infinite utility streams: The impossibility of Weak Pareto. Journal of Economic Theory 147, 353–363. Alcantud, J.C.R. and Garcia-Sanz, M.D. (2010) Evaluations of infinite utility streams: Pareto-efficient and egalitarian axiomatics. MPRA Paper No. 20133, http://mpra.ub.uni-muenchen.de/20133/ Asheim GB, Mitra T, Tungodden B (2012) Sustainable recursive social welfare functions. Economic Theory 49, 267-292. Banerjee K (2006) On the equity-efficiency trade off in aggregating infinite utility streams. Economics Letters 93, 63-67. Basu K, Mitra T (2003) Aggregating infinite utility streams with intergenerational equity: the impossibility of being Paretian. Econometrica 71, 1557-1563. Bossert W, Sprumont Y, Suzumura K (2007) Ordering infinite utility streams. Journal of Economic Theory 135, 579-589. Crespo J, Nuñez C, Rincon-Zapatero JP (2009) On the impossibility of representing infinite utility streams. Economic Theory 40, 47-56. Dalton H (1920) The measurement of inequality of incomes. Econ J 30, 348–61. Dubey RS (2011) Fleurbaey-Michel conjecture on equitable weak Paretian social welfare order. Journal of Mathematical Economics 47 434–439. Dubey RS, Mitra T (2011) On equitable social welfare functions satisfying the weak pareto axiom: a complete characterization. International Journal of Economic Theory 7, 231-250. Fleurbaey M, Trannoy A (2003) The impossibility of a Paretian egalitarian. Social Choice and Welfare 21, 243–263. Fleurbaey M, Tungodden B (2011) The tyranny of non-aggregation versus the tyranny of aggregation in social choices: a real dilemma. Economic Theory 44, 399–414. Hara C, Shinotsuka T, Suzumura K, Xu Y (2006) On the possibility of continuous, Paretian and egalitarian evaluation of infinite utility streams. Mimeo. Hara C, Shinotsuka T, Suzumura K, Xu Y (2008) Continuity and egalitarianism in the evaluation of infinite utility streams. Social Choice and Welfare 31, 179-191. Kolm SC (1977) Multidimensional egalitarianisms. Quarterly Journal of Economics 91, 1–13. Lauwers L (2010) Ordering infinite utility streams comes at the cost of a non-Ramsey set. Journal of Mathematical Economics 46, 32–37. Moulin H (1991) Axioms of Cooperative Decision-Making. Cambridge University Press, Cambridge. Pigou AC (1912) Economics of Welfare, 4th edition, 1932. Macmillan, London. Sakai T (2006) Equitable intergenerational preferences on restricted domains. Social Choice and Welfare 27, 41-54. Sakamoto N (2011) Impossibilities of Paretian social welfare functions for infinite utility streams with distributive equity. Discussion Paper #2011-09. Hitotsubashi University. Zame WR (2007) Can intergenerational equity be operationalized? Theoretical Economics 2, 187–202. |
URI: | https://mpra.ub.uni-muenchen.de/id/eprint/44372 |
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The impossibility of social evaluations of infinite streams with strict inequality aversion. (deposited 25 Sep 2011 19:14)
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