We study the nature (constructive versus non-constructive) and the issue of real-valued representability of social welfare orders, on the set of infinite utility streams, satisfying the anonymity and asymptotic density-one Pareto axioms. We characterize the existence of representable and constructive social welfare orders (fulfilling the aforementioned axioms) in terms of easily verifiable conditions on the feasible set of one-period utilities, denoted by Y subset of R: a social welfare order satisfying anonymity and asymptotic density-one Pareto is representable and admits explicit description if and only if Y contains finitely many elements. (C) 2021 Elsevier B.V. All rights reserved.
On social welfare orders satisfying anonymity and asymptotic density-one Pareto
Laguzzi G.;
2021-01-01
Abstract
We study the nature (constructive versus non-constructive) and the issue of real-valued representability of social welfare orders, on the set of infinite utility streams, satisfying the anonymity and asymptotic density-one Pareto axioms. We characterize the existence of representable and constructive social welfare orders (fulfilling the aforementioned axioms) in terms of easily verifiable conditions on the feasible set of one-period utilities, denoted by Y subset of R: a social welfare order satisfying anonymity and asymptotic density-one Pareto is representable and admits explicit description if and only if Y contains finitely many elements. (C) 2021 Elsevier B.V. All rights reserved.File | Dimensione | Formato | |
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