TY - JOUR
T1 - Intergenerational equity and an explicit construction of welfare criteria
AU - Sakai, Toyotaka
N1 - Copyright:
Copyright 2010 Elsevier B.V., All rights reserved.
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.
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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 -