We analyze infinite-horizon choice functions within the setting of a simple linear technology. Time consistency and efficiency are characterized by stationary consumption and inheritance functions, as well as a transversality condition. In addition, we consider the equity axioms Suppes-Sen,...

In a world admitting a fixed finite set of alternatives, an opinion is an orderedpair of alternatives. Such a pair expresses the idea that one alternative is superior toanother in some sense, and an opinion aggregator assigns a social relation on the set ofalternatives to every possible multiset...

Pierre Daunou, a contemporary of Borda and Condorcet during the era of the French Revolution and active debates on alternative voting rules, proposed a rule that chooses the strong Condorcet winner if there is one, otherwise eliminates Condorcet losers and uses plurality voting on the remaining...

The conditions of strong Condorcet winner consistency and strong Condorcet loser consistency are, in essence, universally accepted. However, there are many situations in which they are silent. The weak counterparts of these properties suffer from the fatal flaw that a weak Condorcet winner can...

Public policies often involve choices of alternatives in which the size and the composition of the population may vary. Examples are the allocation of resources to prenatal care and the design of aid packages to developing countries. In order to assess the corresponding feasible choices on...

In an infinite-horizon setting, Ferejohn and Page showed that any social welfare function satisfying Arrow’s axioms and stationarity must be a dictatorship of the first generation. Packel strengthened this result by proving that no collective choice rule generating complete social preferences...