Article

# Ordering infinite utility streams

Département de Sciences Economiques and CIREQ, Université de Montréal, C.P. 6128, succursale Centre-ville, Montréal QC, Canada H3C 3J7; Département de Sciences Economiques and CIREQ, Université de Montréal, C.P. 6128, succursale Centre-ville, Montréal QC, Canada H3C 3J7; Institute of Economic Research, Hitotsubashi University, Kunitachi, Tokyo 186-8603, Japan

Journal of Economic Theory 02/2007; DOI: 10.1016/j.jet.2006.03.005 Source: RePEc

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**ABSTRACT:**Two factors influence the resolution of the conflict among infinite generations: the consistency/ethical postulates requested; and the utilities that each generation can possess. We contribute to qualifying the Basu-Mitra approach to this problem, that concerns social welfare functions. Firstly we examine efficiency and strengthened forms of Hammond Equity for the Future both when the feasible utilities are [0,1] and natural numbers. This complements Banerjee (Economics Letters, 2006) and Alcantud and Garcia- Sanz (Economics Letters, 2010). Secondly, we analyze the possibility of combining Pareto-efficiency and the spirit of the Hammond Equity principle for both specfications of the feasible utilities. Here the case study is richer since we analyze four different versions of this principle. We conclude that the Anonymity, Hammond Equity for the Future, and Hammond Equity ethics can be combined with weak specifications of the Pareto postulate at a time even through explicit social welfare functions.07/2013; - [Show abstract] [Hide abstract]

**ABSTRACT:**This paper analyses Rawls's celebrated difference principle, and a set of refinements of it, in societies with a finite and an infinite number of agents. First, a unified framework of analysis is provided, which allows one to characterise a family of egalitarian principles by means of a new axiom -the Harm Principle -recently proposed by [12]. This is quite interesting, because the Harm principle is meant to capture a liberal requirement of noninterference and it incorporates no obvious egalitarian content. Second, a complete axiomatic characterisation of a new social welfare function recently proposed by John Roemer [16], [17] -the recursive maximin -is provided. Finally, a set of new char-acterisations of refinements of the difference principle (the leximin and the recursive maximin) in the intergenerational context with an infinite number of agents is derived. JEL classification. D63 (Equity, Justice, Inequality, and Other Norma-tive Criteria and Measurement); D70 (Analysis of Collective Decision-Making); Q01 (Sustainable development).05/2013; - [Show abstract] [Hide abstract]

**ABSTRACT:**Various extensions of the leximin order to the infinite dimensional setting have been suggested. They relax completeness and strong anonymity. Instead, by removing sensitivity to generations at infinite rank this paper defines a complete and strongly anonymous leximin relation on infinite streams. The order is axiomatized, and it is shown to be the limit of extended rank-discounted utilitarianism for any utility function, as the discount factor approaches zero.Social Choice and Welfare 09/2011; · 0.44 Impact Factor

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