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Ordering infinite utility streams

journal contribution
posted on 2007-07-01, 00:00 authored by W Bossert, Yves SprumontYves Sprumont, K Suzumura
We reconsider the problem of ordering infinite utility streams. As has been established in earlier contributions, if no representability condition is imposed, there exist strongly Paretian and finitely anonymous orderings of intertemporal utility streams. We examine the possibility of adding suitably formulated versions of classical equity conditions. First, we provide a characterization of all ordering extensions of the generalized Lorenz criterion as the only strongly Paretian and finitely anonymous rankings satisfying the strict transfer principle. Second, we offer a characterization of an infinite-horizon extension of leximin obtained by adding an equity-preference axiom to strong Pareto and finite anonymity.

History

Journal

Journal of Economic Theory

Volume

135

Issue

1

Pagination

579 - 589

Publisher

Academic Press

Location

Maryland Heights, Mo.

ISSN

0022-0531

eISSN

1095-7235

Language

eng

Publication classification

C1 Refereed article in a scholarly journal

Copyright notice

2006, Elsevier

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