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In this paper, we investigate the possibility of representing ethical intergenerational preferences using more than one utility function. It is shown that the impossibility of representing intergenerational preferences equitably persists in the multiutility frame work with some reasonable...
Persistent link: https://www.econbiz.de/10013091192
In this paper we show that if a strongly monotone inter-temporal order exhibits no preference towards the advancement of timing of future utility on any infinite utility stream, then the existence of such an order must involve some non-constructive device
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This paper studies the nature of social welfare orders on infinite utility streams, satisfying the efficiency principle known as Monotonicity and the consequentialist equity principle known as Strong Equity. It provides a complete characterization of domain sets for which there exists such a...
Persistent link: https://www.econbiz.de/10013062883