Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/122145
Authors: 
Jonsson, Adam
Voorneveld, Mark
Year of Publication: 
2014
Series/Report no.: 
SSE/EFI Working Paper Series in Economics and Finance 747
Abstract: 
This paper provides axiomatic descriptions of social welfare relations, defined on infinite streams of utility, that are consistent with the utilitarian criterion on subsets where maximizing aggregate utility has a clear interpretation: the streams, or their differences, are summable. Besides standard assumptions on efficiency, equity and interpersonal comparability, two axioms are introduced and shown to be necessary and sufficient. A more general version of one axiom suffices to distinguish streams with different long-run averages.
Subjects: 
intergenerational equity
aggregating infinite utility streams
ethical social welfare relations
JEL: 
D63
D70
D90
Document Type: 
Working Paper

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