We introduce and axiomatize two quasi-orderings that extend preferences on a set to its power set. First, a modified version of indirect utility takes into account the number of maximal elements in the opportunity set. This rule meets Puppe's axiom of preference for freedom. Second, an averaging...

The history of the axiomatic approach to the ranking of infinite streams starts with Koopmans' (1960) characterization of the discounted utilitarian rule. This rule, however, meets Chichilnisky's axiom of dictatorship of the present and puts future generations offside. Recently, Lauwers (2010a)...