Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/55193
Authors: 
Lombardi, Michele
Veneziani, Roberto
Year of Publication: 
2009
Series/Report no.: 
Working Paper // School of Economics and Finance, Queen Mary, University of London 650
Abstract: 
This paper extends the analysis of liberal principles in social choice recently proposed by Mariotti and Veneziani (2009a) to infinitely-lived societies. First, a novel characterisation of the inegalitarian leximax social welfare relation is provided based on the Individual Benefit Principle, which incorporates a liberal, non-interfering view of society. This result is surprising because the IBP has no obvious inegalitarian content. Second, it is shown that there exists no weakly complete social welfare relation that satisfies simultaneously the standard axioms of Finite Anonymity, Strong Pareto, and Weak Preference Continuity, and a liberal principle of Non-Interference that generalises IBP.
Subjects: 
infinite utility streams
Individual Benefit Principle
leximax
non-interference
impossibility
JEL: 
D63
D70
Q01
Document Type: 
Working Paper

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