It has been known that, in aggregating infinite utility streams, there does not exist any social welfare function, which satisfies the axioms of Pareto, intergenerational equity, and continuity. We show that the impossibility result persists even without imposing the continuity axiom, and in frameworks allowing for more general domains of utilities than those used in the existing literature.
MLA
Basu, Kaushik, and Tapan Mitra. “Aggregating Infinite Utility Streams with InterGenerational Equity: The Impossibility of Being Paretian.” Econometrica, vol. 71, .no 5, Econometric Society, 2003, pp. 1557-1563, https://doi.org/10.1111/1468-0262.00458
Chicago
Basu, Kaushik, and Tapan Mitra. “Aggregating Infinite Utility Streams with InterGenerational Equity: The Impossibility of Being Paretian.” Econometrica, 71, .no 5, (Econometric Society: 2003), 1557-1563. https://doi.org/10.1111/1468-0262.00458
APA
Basu, K., & Mitra, T. (2003). Aggregating Infinite Utility Streams with InterGenerational Equity: The Impossibility of Being Paretian. Econometrica, 71(5), 1557-1563. https://doi.org/10.1111/1468-0262.00458
We are deeply saddened by the passing of Kate Ho, the John L. Weinberg Professor of Economics and Business Policy at Princeton University and a Fellow of the Econometric Society. Kate was a brilliant IO economist and scholar whose impact on the profession will resonate for many years to come.
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