Arbeitspapier
Infinite-horizon choice functions
We analyze infinite-horizon choice functions within the setting of a simple linear technology. Time consistency and efficiency are characterized by stationary consumption and inheritance functions, as well as a transversality condition. In addition, we consider the equity axioms Suppes-Sen, Pigou-Dalton, and resource monotonicity. We show that Suppes-Sen and Pigou-Dalton imply that the consumption and inheritance functions are monotone with respect to time—thus justifying sustainability—while resource monotonicity implies that the consumption and inheritance functions are monotone with respect to the resource. Examples illustrate the characterization results.
- Sprache
-
Englisch
- Erschienen in
-
Series: Memorandum ; No. 2006,17
- Klassifikation
-
Wirtschaft
Equity, Justice, Inequality, and Other Normative Criteria and Measurement
Social Choice; Clubs; Committees; Associations
- Thema
-
Intergenerational resource allocation
infinite-horizon choice
Soziale Wohlfahrtsfunktion
Intertemporale Allokation
Generationenbeziehungen
Wiederholte Spiele
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Asheim, Geir B.
Bossert, Walter
Sprumont, Yves
Suzumura, Kotaro
- Ereignis
-
Veröffentlichung
- (wer)
-
University of Oslo, Department of Economics
- (wo)
-
Oslo
- (wann)
-
2006
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Asheim, Geir B.
- Bossert, Walter
- Sprumont, Yves
- Suzumura, Kotaro
- University of Oslo, Department of Economics
Entstanden
- 2006
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