Showing 1 - 10 of 228
In this paper, we study intertemporal social welfare evaluations when agents may have heterogeneous time preferences. We first show that, even if all agents share the time preference, there exists a conflict between efficiency in the sense of Pareto principle, time consistency, and equity...
Persistent link: https://www.econbiz.de/10013222480
We reexamine the analysis of Chambers (Social Choice and Welfare, 2009), that produces a characterization of a family of social welfare functions in the context of intergenerational equity: namely, those that coincide with either the sup, inf, lim sup, or lim inf rule. Reinforcement, ordinal...
Persistent link: https://www.econbiz.de/10005070465
This paper reviews the application of social welfare functions (SWFs) in welfare-maximizing climate policy analysis. We identify several methodological inconsistencies, analyze their policy implications, discuss the theoretical questions raised by them, and provide recommendations for future...
Persistent link: https://www.econbiz.de/10014058538
This paper studies the nature of social welfare orders on infinite utility streams, satisfying the efficiency principle known as Monotonicity and the consequentialist equity principle known as Strong Equity. It provides a complete characterization of domain sets for which there exists such a...
Persistent link: https://www.econbiz.de/10013088427
This paper studies the nature (representation and construction) of social welfare orders on infinite utility streams, satisfying strong equity and anonymity. We show: 1) there does not exist a social welfare function satisfying the axioms of Anonymity, Monotonicity and Strong Equity for every...
Persistent link: https://www.econbiz.de/10012894506
This paper examines the problem of aggregating infinite utility streams with a social welfare function that respects the Hammond Equity and Weak Pareto Axioms. The paper provides a complete characterization of domains (of the one period utilities) on which such an aggregation is possible. A...
Persistent link: https://www.econbiz.de/10013060100
In this paper we re-examine the axiomatic basis of the key result on weighted utilitarian representation of preference orders on finite utility streams. We show that a preference order satisfying the axioms of Minimal Individual Symmetry, Invariance and Strong Pareto need not have a...
Persistent link: https://www.econbiz.de/10008649278
The paper examines the problem of aggregating infinite utility streams with a social welfare function which respects the Anonymity and Weak Pareto Axioms. It provides a complete characterization of domains (of the one period utilities) on which such an aggregation is possible. A social welfare...
Persistent link: https://www.econbiz.de/10008649296
Economies that currently have the same productive capacity may implement different growth rates. This entails that it is insufficient to base international comparisons of welfare solely on current well-being, or introducing the potential for future growth in an arbitrary manner. NNP-based...
Persistent link: https://www.econbiz.de/10003932544
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/10011702540