On Equitable Social Welfare Functions Satisfying the Weak Pareto Axiom: A Complete Characterization
Ram Sewak Dubey
Montclair State University - School of Business, Department of Economics and Finance
Cornell University - Department of Economics
July 1, 2010
CAE Working Paper No. 10-02
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 function satisfying the Anonymity and Weak Pareto Axioms exists on precisely those domains which do not contain any set of the order type of the set of positive and negative integers. The criterion is applied to decide on possibility and impossibility results for a variety of domains. It is also used to provide an alternative formulation of the characterization result in terms of the accumulation points of the domain.
Number of Pages in PDF File: 24
Keywords: anonymity axiom, weak pareto axiom, social welfare function, infinite utility streams, domain restrictions, order types, accumulation points
JEL Classification: D60, D70, D90working papers series
Date posted: April 8, 2012
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