Utilitarianism for Infinite Utility Streams: A New Welfare Criterion and Its Axiomatic Characterization

A definition of a utilitarian social welfare relation (SWR) for infinite utility streams is proposed. Such a relation is characterized in terms of the Pareto, Anonymity and Partial Unit Comparability Axioms. The merits of the utilitarian SWR, relative to the more restrictive SWR induced by the overtaking criterion, are examined.

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Year of publication:	2003-05
Authors:	Basu, Kaushik ; Mitra, Tapan
Institutions:	Center for Analytic Economics, Department of Economics

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Series:	Working Papers.
Type of publication:	Book / Working Paper
Classification:	D60 - Welfare Economics. General ; D70 - Analysis of Collective Decision-Making. General ; D90 - Intertemporal Choice and Growth. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005237161