Limit representations of intergenerational equity
| Autor: | Toyotaka Sakai |
|---|---|
| Rok vydání: | 2016 |
| Předmět: |
Limit of a function
Economics and Econometrics Continuous function 05 social sciences Pareto principle Extension (predicate logic) Ranking 0502 economics and business 050206 economic theory Limit (mathematics) Mathematical economics Social Sciences (miscellaneous) Axiom 050205 econometrics Mathematics Anonymity |
| Zdroj: | Social Choice and Welfare. 47:481-500 |
| ISSN: | 1432-217X 0176-1714 |
| DOI: | 10.1007/s00355-016-0973-0 |
| Popis: | Equal treatment of all generations is a fundamental ethical principle in intertemporal welfare economics. This principle is expressed in anonymity axioms of orderings on the set of infinite utility streams. We first show that an ordering satisfies finite anonymity, uniform Pareto, weak non-substitution, and sup continuity if and only if it is represented by an increasing, continuous function that is a natural extension of the limit function. We then show that whenever such an ordering is infinitely anonymous, it depends only on the liminf and limsup of any utility stream. Our results imply that in ethically ranking utility streams, reflecting only infinitely long-run movements is possible, with liminf and limsup particularly essential, but it is impossible to respect finite generations. |
| Databáze: | OpenAIRE |
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