Intergenerational preferences and sensitivity to the present

This paper discusses the existence of binary relations on the set of intergenerational welfare paths in an infinite horizon setting. We show that any binary relation that satisfies anonymity and sup norm continuity is not sensitive to changes in welfare levels of the present generations. This result generalizes the impossibility theorems by Diamond [Econometrica 33 (1965) 170-177] and Sakai [Social Choice and Welfare, 16 (2003) 176-167].

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Year of publication:	2003
Authors:	Sakai, Toyotaka
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 4.2003, 26, p. 1-5
Publisher:	AccessEcon

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Classification:	D6 - Welfare Economics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005110747