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The limit of discounted utilitarianism
Jonsson, Adam; Voorneveld, Mark - 2014 - Date: March 21, 2014
This paper presents an infinite-horizon version of intergenerational utilitarianism that is both satisfactorily … complete and consistent. By studying discounted utilitarianism as the discount factor tends to one, we obtain a welfare … criterion --- limit-discounted utilitarianism --- that combines efficiency and the equal treatment of generations with …
Persistent link: https://www.econbiz.de/10010258772
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Utilitarianism for infinite utility streams: summable differences and finite averages
Jonsson, Adam; Voorneveld, Mark - 2014 - Date: March 21, 2014
This paper provides axiomatic descriptions of social welfare relations, defined on infinite streams of utility, that are consistent with the utilitarian criterion on subsets where maximizing aggregate utility has a clear interpretation: the streams, or their differences, are summable. Besides...
Persistent link: https://www.econbiz.de/10010258774
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Utilitarianism for infinite utility streams: summable differences and finite averages
Jonsson, Adam; Voorneveld, Mark - Economics Institute for Research (SIR), … - 2014
This paper provides axiomatic descriptions of social welfare relations, defined on infinite streams of utility, that are consistent with the utilitarian criterion on subsets where maximizing aggregate utility has a clear interpretation: the streams, or their differences, are summable. Besides...
Persistent link: https://www.econbiz.de/10010762008
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The limit of discounted utilitarianism
Jonsson, Adam; Voorneveld, Mark - In: Theoretical economics : TE ; an open access journal in … 13 (2018) 1, pp. 19-37
This paper presents an infinite-horizon version of intergenerational utilitarianism. By studying discounted … utilitarianism as the discount factor tends to one, we obtain a new welfare criterion: limit-discounted utilitarianism (LDU). We show …
Persistent link: https://www.econbiz.de/10011855845
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Allais-anonymity as an alternative to the discounted-sum criterion in the calculus of optimal growth I: Consensual optimality
Mabrouk, Mohamed - Volkswirtschaftliche Fakultät, … - 2006
The objective of this work is to try to define and calculate the optimal growth path, in the presence of exogenous technical change, without resorting to the discounted-sum criterion. The solution suggested is to consider an optimality criterion expressing an Allais-anonymous intergenerational...
Persistent link: https://www.econbiz.de/10005789826
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Intergenerational anonymity as an alternative to the discounted- sum criterion in the calculus of optimal growth I: Consensual optimality
Mabrouk, Mohamed - EconWPA - 2005
The objective of this work is to try to define and calculate the optimal growth path, in the presence of exogenous technical change, without resorting to the discounted-sum criterion. The solution suggested is to consider an optimality criterion expressing an anonymous intergenerational...
Persistent link: https://www.econbiz.de/10005062748
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Allais-anonymity as an alternative to the discounted-sum criterion in the calculus of optimal growth II: Pareto optimality and some economic interpretations
Mabrouk, Mohamed - Volkswirtschaftliche Fakultät, … - 2006
This paper studies the Pareto-optimality of the consensual optimum established in "Allais-anonymity as an alternative to the discounted-sum criterion I: consensual optimality" (Mabrouk 2006a). For that, a Pareto-optimality criterion is set up by the application of the generalized Karush, Kuhn...
Persistent link: https://www.econbiz.de/10005025714
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Intergenerational anonymity as an alternative to the discounted- sum criterion in the calculus of optimal growth II: Pareto optimality and some economic interpretations
Mabrouk, Mohamed - EconWPA - 2005
This paper studies the Pareto-optimality of the consensual optimum established in 'Intergenerational anonymity as an alternative to the discounted-sum criterion I: consensual optimality'. For that, a Pareto- optimality criterion is set up by the application of the generalized Karush, Kuhn and...
Persistent link: https://www.econbiz.de/10005556724
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Can intergenerational equity be operationalized?
Zame, William R. - In: Theoretical Economics 2 (2007) 2, pp. 187-202
A long Utilitarian tradition has the ideal of equal regard for all individuals, both those now living and those yet to be born. The literature formalizes this ideal as asking for a preference relation on the space of infinite utility streams that is complete, transitive, invariant to finite...
Persistent link: https://www.econbiz.de/10011599387
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Can intergenerational equity be operationalized?
Zame, William R. - In: Theoretical Economics 2 (2007) 2
A long Utilitarian tradition has the ideal of equal regard for all individuals, both those now living and those yet to be born. The literature formalizes this ideal as asking for a preference relation on the space of infinite utility streams that is complete, transitive, invariant to finite...
Persistent link: https://www.econbiz.de/10005515739