Combining Monotonicity and Strong Equity: Construction and Representation of Orders on Infinite Utility Streams
This paper studies the nature of social welfare orders (SWO) 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 SWO which is in addition representable by a real valued function. It then shows that for those domain sets for which there is no such SWO which is representable, the existence of such a SWO necessarily entails the existence of a non-Ramsey set, a non-constructive object.
MSU Digital Commons Citation
Dubey, Ram and Mitra, Tapan, "Combining Monotonicity and Strong Equity: Construction and Representation of Orders on Infinite Utility Streams" (2014). Department of Economics Faculty Scholarship and Creative Works. 11.