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On social welfare orders satisfying anonymity and asymptotic density-one Pareto

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  • Dubey, Ram Sewak
  • Laguzzi, Giorgio
  • Ruscitti, Francesco

Abstract

We study the nature (constructive versus non-constructive) and the issue of real-valued representability of social welfare orders, on the set of infinite utility streams, satisfying the anonymity and asymptotic density-one Pareto axioms. We characterize the existence of representable and constructive social welfare orders (fulfilling the aforementioned axioms) in terms of easily verifiable conditions on the feasible set of one-period utilities, denoted by Y⊂R: a social welfare order satisfying anonymity and asymptotic density-one Pareto is representable and admits explicit description if and only if Y contains finitely many elements.

Suggested Citation

  • Dubey, Ram Sewak & Laguzzi, Giorgio & Ruscitti, Francesco, 2021. "On social welfare orders satisfying anonymity and asymptotic density-one Pareto," Mathematical Social Sciences, Elsevier, vol. 111(C), pages 26-33.
    • Handle: RePEc:eee:matsoc:v:111:y:2021:i:c:p:26-33
    DOI: 10.1016/j.mathsocsci.2021.03.002
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    1. Fleurbaey, Marc & Michel, Philippe, 2003. "Intertemporal equity and the extension of the Ramsey criterion," Journal of Mathematical Economics, Elsevier, vol. 39(7), pages 777-802, September.
    2. Ram Sewak Dubey & Tapan Mitra, 2011. "On equitable social welfare functions satisfying the Weak Pareto Axiom: A complete characterization," International Journal of Economic Theory, The International Society for Economic Theory, vol. 7(3), pages 231-250, September.
    3. Juan Crespo & Carmelo Nuñez & Juan Rincón-Zapatero, 2009. "On the impossibility of representing infinite utility streams," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 40(1), pages 47-56, July.
    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, September.
    5. Kaushik Basu & Tapan Mitra, 2007. "Possibility Theorems for Equitably Aggregating Infinite Utility Streams," International Economic Association Series, in: John Roemer & Kotaro Suzumura (ed.), Intergenerational Equity and Sustainability, chapter 5, pages 69-84, Palgrave Macmillan.
    6. Dubey, Ram Sewak & Laguzzi, Giorgio & Ruscitti, Francesco, 2020. "On the representation and construction of equitable social welfare orders," Mathematical Social Sciences, Elsevier, vol. 107(C), pages 17-22.
    7. Dubey, Ram Sewak, 2011. "Fleurbaey–Michel conjecture on equitable weak Paretian social welfare order," Journal of Mathematical Economics, Elsevier, vol. 47(4-5), pages 434-439.
    8. Dubey, Ram Sewak & Mitra, Tapan, 2014. "On construction of equitable social welfare orders on infinite utility streams," Mathematical Social Sciences, Elsevier, vol. 71(C), pages 53-60.
    9. 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.
    10. Luc Lauwers, 2016. "Intergenerational Equity, Efficiency, and Constructibility," Studies in Economic Theory, in: Graciela Chichilnisky & Armon Rezai (ed.), The Economics of the Global Environment, pages 191-206, Springer.
    11. Ram Dubey & Tapan Mitra, 2014. "Combining monotonicity and strong equity: construction and representation of orders on infinite utility streams," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 43(3), pages 591-602, October.
    12. Henrik Petri, 2019. "Asymptotic properties of welfare relations," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 67(4), pages 853-874, June.
    13. Toyotaka Sakai, 2016. "Limit representations of intergenerational equity," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 47(2), pages 481-500, August.
    14. Stefano Demichelis & Tapan Mitra & Gerhard Sorger, 2010. "Intergenerational equity and stationarity," Vienna Economics Papers 1003, University of Vienna, Department of Economics.
    15. Dubey, Ram Sewak, 2016. "On construction of social welfare orders satisfying Hammond equity and Weak Pareto axioms," Mathematical Social Sciences, Elsevier, vol. 84(C), pages 119-124.
    16. Svensson, Lars-Gunnar, 1980. "Equity among Generations," Econometrica, Econometric Society, vol. 48(5), pages 1251-1256, July.
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    Cited by:

    1. Jeremy Goodman & Harvey Lederman, 2024. "Maximal Social Welfare Relations on Infinite Populations Satisfying Permutation Invariance," Papers 2408.05851, arXiv.org, revised Nov 2024.
    2. Dubey, Ram Sewak & Laguzzi, Giorgio, 2021. "Equitable preference relations on infinite utility streams," Journal of Mathematical Economics, Elsevier, vol. 97(C).

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