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Ordering infinite utility streams comes at the cost of a non-Ramsey set

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  • Lauwers, Luc

Abstract

The existence of a Paretian and finitely anonymous ordering in the set of infinite utility streams implies the existence of a non-Ramsey set (a non-constructive object whose existence requires The Axiom of Choice). Therefore, each Paretian and finitely anonymous quasi-ordering either is incomplete or does not have an explicit description. Hence, the possibility results of Svensson [Svensson, L.G., 1980. Equity among generations. Econometrica 48, 1251-1256] and of Bossert et al. [Bossert, W., Sprumont, Y., Suzumura, K., 2007. Ordering infinite utility streams. Journal of Economic Theory 135 (1), 579-589] do require The Axiom of Choice.

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  • Lauwers, Luc, 2010. "Ordering infinite utility streams comes at the cost of a non-Ramsey set," Journal of Mathematical Economics, Elsevier, vol. 46(1), pages 32-37, January.
    • Handle: RePEc:eee:mateco:v:46:y:2010:i:1:p:32-37
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    More about this item

    Keywords

    Intergenerational justice Pareto Multi-period social choice Axiom of choice Constructivism;

    JEL classification:

    • D60 - Microeconomics - - Welfare Economics - - - General
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General

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