RT Journal Article
T1 On the impossibility of representing infinite utility streams
A1 Crespo, Juan A.
A1 Núñez, Carmelo
A1 Rincón-Zapatero, Juan Pablo
AB We introduce a new Pareto-type criterion for social welfare functions over infinite utility streams that is not necessarily sensitive to increments in just a finite number of components. We show that there is no social welfare function that satisfies both this criterion and Diamond's equity condition simultaneously. With our result, we extend the impossibility theorem of Basu and Mitra. Moreover, we show that, even under a weaker version of equity related to Zame's intergenerational equity condition, the impossibility results are obtained as well.
PB Springer
SN 1432-0479
YR 2009
FD 2009
LK https://hdl.handle.net/10016/5477
UL https://hdl.handle.net/10016/5477
LA eng
NO The original publication is available at www.springerlink.com
DS e-Archivo
RD 1 may. 2024