Aggregating infinite utility streams with inter-generational equity
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Author
Contributions
- Mitra, Tapan, 1948- - Contributor
- Massachusetts Institute of Technology. Dept. of Economics - Contributor
Publication
2002 - Massachusetts Institute of Technology, Dept. of Economics, Cambridge, MA, Massachusetts
Language
English
Word Count
5,750 words, Guess
Page Count
23 pages
Identifiers
- Internet Archiveaggregatinginfin00basu
- OCLC Control Number51759875
- Open LibraryOL24639616M
Description
It has been known that, in aggregating infinite utility streams, there does not exist any social welfare function, which satisfies the axioms of Pareto, inter-generational equity and continuity. We show that the impossibility result persists even without imposing the continuity axiom. Hence, the problem of accommodating inter-generational equity is more obstinate than previously supposed. The paper goes on to explore the scope for obtaining possibility results by weakening the Pareto axiom and placing restrictions on the domain of utilities. Keywords: aggregating utility, social welfare function, inter-generational equity, Pareto. JEL Classification: D00, D70, D90.
Subjects
Series Statement
- Working paper series / Massachusetts Institute of Technology, Dept. of Economics -- working paper 02-19
- Working paper (Massachusetts Institute of Technology. Dept. of Economics) -- no. 02-19.
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