This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Possibility Theorems for Aggregating Infinite Utility Streams Equitably

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Basu, Kaushik (Cornell U)
Mitra, Tapan (Cornell U)

Additional information is available for the following registered author(s):

Abstract

The standard route for aggregating infinite utility streams using a real-valued representation runs into well-known difficulties as soon as we insist on the axiom of inter-generational equity. The aim of this paper is to explore what is feasible without abandoning this axiom. The paper focusses its attention on the Pareto axiom and domain restrictions. It turns out that once we weaken these requirements, realvalued aggregation becomes possible in a variety of ways (though, of course, impossibility results lurk everywhere). By establishing a series of results, this paper tries to chalk out the frontier between what is possible and what is not.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.arts.cornell.edu/econ/CAE/05-05.pdf
File Format:
File Function:
Download Restriction: no

Publisher Info
Paper provided by Cornell University, Center for Analytic Economics in its series Working Papers with number 05-05.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length:
Date of creation: May 2005
Date of revision:
Handle: RePEc:ecl:corcae:05-05

Contact details of provider:
Postal: 402 Uris Hall, Ithaca, NY 14853
Phone: (607) 255-9901
Fax: (607) 255-2818
Web page: http://www.arts.cornell.edu/econ/CAE/workingpapers.html
More information through EDIRC

For technical questions regarding this item, or to correct its listing, contact: ().

Related research
Keywords:

Find related papers by JEL classification:
D60 - Microeconomics - - Welfare Economics - - - General
D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
D90 - Microeconomics - - Intertemporal Choice and Growth - - - General

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Sen, Amartya K, 1977. "On Weights and Measures: Informational Constraints in Social Welfare Analysis," Econometrica, Econometric Society, vol. 45(7), pages 1539-72, October. [Downloadable!] (restricted)
  2. Svensson, Lars-Gunnar, 1980. "Equity among Generations," Econometrica, Econometric Society, vol. 48(5), pages 1251-56, July. [Downloadable!] (restricted)
  3. BOSSERT, Walter & SPRUMONT, Yves & SUZUMURA, Kotaro, 2004. "The Possibility of Ordering Infinite Utility Streams," Cahiers de recherche 2004-09, Universite de Montreal, Departement de sciences economiques. [Downloadable!]
    Other versions:
  4. Kaushik Basu & Tapan Mitra, 2003. "Aggregating Infinite Utility Streams with InterGenerational Equity: The Impossibility of Being Paretian," Econometrica, Econometric Society, vol. 71(5), pages 1557-1563, 09. [Downloadable!] (restricted)
    Other versions:
  5. Tjalling C. Koopmans, 1959. "Stationary Ordinal Utility and Impatience," Cowles Foundation Discussion Papers 81, Cowles Foundation, Yale University. [Downloadable!]
  6. Basu Kaushik, 1994. "Group Rationality, Utilitarianism, and Escher's Waterfall," Games and Economic Behavior, Elsevier, vol. 7(1), pages 1-9, July. [Downloadable!] (restricted)
  7. M. Fleurbaey & P. Michel, 1997. "Intertemporal equity and the extension of the Ramsey criterion," THEMA Working Papers 97-11, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    Other versions:
  8. Suzumura, Kotaro & Shinotsuka, Tomoichi, 2003. "On the Possibility of Continuous, Paretian and Egalitarian Evaluation of Infinite Utility Streams," Discussion Paper 189, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University. [Downloadable!]
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Alcantud, José C. R. & García-Sanz, María D., 2007. "Paretian evaluation of infinite utility streams: an egalitarian criterion," MPRA Paper 6288, University Library of Munich, Germany. [Downloadable!]
Statistics
Access and download statistics

Did you know? A tutorial is available.

This page was last updated on 2009-11-8.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.