Ordering infinite utility streams: EFFICIENCY, continuity, and no impatience

José Carlos R. Alcantud; Ram Sewak Dubey

doi:10.1016/j.mathsocsci.2014.09.004

Ordering infinite utility streams: EFFICIENCY, continuity, and no impatience

José Carlos R. Alcantud, Ram Sewak Dubey

Economics

Research output: Contribution to journal › Article › peer-review

3 Scopus citations

Abstract

We study two related versions of the no-impatience postulate in the context of transitive and reflexive relations on infinite utility streams which are not necessarily complete. Both are excluded by the traditional (weak) anonymity axiom. We show explicit social welfare relations satisfying Strong Pareto and the weaker version of no-impatience that are compatible with continuity in all the traditional topologies in this field. However the stronger version of no-impatience is violated by all lower semi-continuous (in the sup or Campbell topologies) social welfare relations satisfying the Weak Pareto axiom.

Original language	English
Pages (from-to)	33-40
Number of pages	8
Journal	Mathematical Social Sciences
Volume	72
DOIs	https://doi.org/10.1016/j.mathsocsci.2014.09.004
State	Published - 1 Nov 2014

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abstract = "We study two related versions of the no-impatience postulate in the context of transitive and reflexive relations on infinite utility streams which are not necessarily complete. Both are excluded by the traditional (weak) anonymity axiom. We show explicit social welfare relations satisfying Strong Pareto and the weaker version of no-impatience that are compatible with continuity in all the traditional topologies in this field. However the stronger version of no-impatience is violated by all lower semi-continuous (in the sup or Campbell topologies) social welfare relations satisfying the Weak Pareto axiom.",

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AB - We study two related versions of the no-impatience postulate in the context of transitive and reflexive relations on infinite utility streams which are not necessarily complete. Both are excluded by the traditional (weak) anonymity axiom. We show explicit social welfare relations satisfying Strong Pareto and the weaker version of no-impatience that are compatible with continuity in all the traditional topologies in this field. However the stronger version of no-impatience is violated by all lower semi-continuous (in the sup or Campbell topologies) social welfare relations satisfying the Weak Pareto axiom.

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JF - Mathematical Social Sciences

ER -

Ordering infinite utility streams: EFFICIENCY, continuity, and no impatience

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