Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Economics
Impatience Implication Of Weakly Paretian Orders: Existence And Genericity, Kuntal Banerjee, Ram Dubey
Impatience Implication Of Weakly Paretian Orders: Existence And Genericity, Kuntal Banerjee, Ram Dubey
Department of Economics Faculty Scholarship and Creative Works
We study order theoretic and topological implications for impatience of weakly Paretian, representable orders on infinite utility streams. As a departure from the traditional literature, we do not make any continuity assumptions in proving the existence of impatient points. Impatience is robust in the sense that there are uncountably many impatient points. A general statement about genericity of impatience cannot be made for representable, weakly Paretian orders. This is shown by means of an example. If we assume a stronger sensitivity condition, then genericity obtains.
On Equitable Social Welfare Functions Satisfying The Weak Pareto Axioma Complete Characterization, Ram Dubey, Tapan Mitra
On Equitable Social Welfare Functions Satisfying The Weak Pareto Axioma Complete Characterization, Ram Dubey, Tapan Mitra
Department of Economics Faculty Scholarship and Creative Works
The present paper examines the problem of aggregating infinite utility streams with a social welfare function that respects the Anonymity and Weak Pareto Axioms. The paper provides a complete characterization of domains (of the one period utilities) on which such an aggregation is possible. A social welfare function satisfying the Anonymity and Weak Pareto Axioms exists on precisely those domains that do not contain any set of the order typeof the set of positive and negative integers. The criterion is applied to decide on possibility and impossibility results for a variety of domains. It is also used to provide an …