Utilitarianism for infinite utility streams: Summable differences and finite averages

Arbeitspapier

This paper provides axiomatic descriptions of social welfare relations, defined on infinite streams of utility, that are consistent with the utilitarian criterion on subsets where maximizing aggregate utility has a clear interpretation: the streams, or their differences, are summable. Besides standard assumptions on efficiency, equity and interpersonal comparability, two axioms are introduced and shown to be necessary and sufficient. A more general version of one axiom suffices to distinguish streams with different long-run averages.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: SSE/EFI Working Paper Series in Economics and Finance ; No. 747

Classification and Topics

• Classification: Wirtschaft ; Equity, Justice, Inequality, and Other Normative Criteria and Measurement ; Analysis of Collective Decision-Making: General ; Micro-Based Behavioral Economics: General‡
• Subject: intergenerational equity ; aggregating infinite utility streams ; ethical social welfare relations

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Jonsson, Adam ; Voorneveld, Mark
• Event: Veröffentlichung
• (who): Stockholm School of Economics, The Economic Research Institute (EFI)
• (where): Stockholm
• (when): 2014

Further information

• Handle: http://hdl.handle.net/10419/122145
• Last update: 10.03.2025, 11:44 AM CET