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On Equitable Social Welfare Functions Satisfying the Weak Pareto Axiom: A Complete CharacterizationRam Sewak DubeyMontclair State University - School of Business, Department of Economics and Finance Tapan MitraCornell University - Department of Economics July 1, 2010 CAE Working Paper No. 10-02 Abstract: 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, D90 working papers seriesDate posted: April 8, 2012Suggested CitationContact Information
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