Ordering infinite utility streams

• 成果类型: Article
• 署名作者: Bossert, Walter; Sprumont, Yves; Suzumura, Kotaro
• 署名单位: Hitotsubashi University; Universite de Montreal; Universite de Montreal
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2006.03.005
• 发表日期: 2007
• 页码: 579-589
• 关键词: Intergenerational justice; multi-period social choice; Leximin

摘要

We reconsider the problem of ordering infinite utility streams. As has been established in earlier contributions, if no representability condition is imposed, there exist strongly Paretian and finitely anonymous orderings of intertemporal utility streams. We examine the possibility of adding suitably formulated versions of classical equity conditions. First, we provide a characterization of all ordering extensions of the generalized Lorenz criterion as the only strongly Paretian and finitely anonymous rankings satisfying the strict transfer principle. Second, we offer a characterization of an infinite-horizon extension of leximin obtained by adding an equity-preference axiom to strong Pareto and finite anonymity. (c) 2006 Elsevier Inc. All rights reserved.