Abstract
Ranking infinite utility streams includes many impossibility results, most involving certain Pareto, anonymity, or continuity requirements. We introduce the concept of the future agreement extension, a method that explicitly extends orderings on finite time horizons to an infinite time horizon. The future agreement extension of the given orderings is quasi-transitive, complete, and pairwisely continuous. Furthermore, its asymmetric part is larger than that of any other pairwisely continuous extension of the orderings. In case of anonymous and strongly Paretian orderings, their future agreement extension is variable step anonymous and strongly Paretian. Characterizations of the future agreement extensions of the utilitarian and leximin orderings are obtained as applications.
| Original language | English |
|---|---|
| Pages (from-to) | 393-414 |
| Number of pages | 22 |
| Journal | Social Choice and Welfare |
| Volume | 35 |
| Issue number | 3 |
| DOIs | |
| Publication status | Published - 2010 |
| Externally published | Yes |
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ASJC Scopus subject areas
- Economics and Econometrics
- Social Sciences (miscellaneous)
Cite this
Intergenerational equity and an explicit construction of welfare criteria. / Sakai, Toyotaka.
In: Social Choice and Welfare, Vol. 35, No. 3, 2010, p. 393-414.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - Intergenerational equity and an explicit construction of welfare criteria
AU - Sakai, Toyotaka
PY - 2010
Y1 - 2010
N2 - Ranking infinite utility streams includes many impossibility results, most involving certain Pareto, anonymity, or continuity requirements. We introduce the concept of the future agreement extension, a method that explicitly extends orderings on finite time horizons to an infinite time horizon. The future agreement extension of the given orderings is quasi-transitive, complete, and pairwisely continuous. Furthermore, its asymmetric part is larger than that of any other pairwisely continuous extension of the orderings. In case of anonymous and strongly Paretian orderings, their future agreement extension is variable step anonymous and strongly Paretian. Characterizations of the future agreement extensions of the utilitarian and leximin orderings are obtained as applications.
AB - Ranking infinite utility streams includes many impossibility results, most involving certain Pareto, anonymity, or continuity requirements. We introduce the concept of the future agreement extension, a method that explicitly extends orderings on finite time horizons to an infinite time horizon. The future agreement extension of the given orderings is quasi-transitive, complete, and pairwisely continuous. Furthermore, its asymmetric part is larger than that of any other pairwisely continuous extension of the orderings. In case of anonymous and strongly Paretian orderings, their future agreement extension is variable step anonymous and strongly Paretian. Characterizations of the future agreement extensions of the utilitarian and leximin orderings are obtained as applications.
UR - http://www.scopus.com/inward/record.url?scp=77955575782&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=77955575782&partnerID=8YFLogxK
U2 - 10.1007/s00355-010-0446-9
DO - 10.1007/s00355-010-0446-9
M3 - Article
AN - SCOPUS:77955575782
VL - 35
SP - 393
EP - 414
JO - Social Choice and Welfare
JF - Social Choice and Welfare
SN - 0176-1714
IS - 3
ER -