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Full-Text Articles in Social and Behavioral Sciences
A Note On Social Welfare Orders Satisfying Pigou-Dalton Transfer Principle, Ram Dubey
A Note On Social Welfare Orders Satisfying Pigou-Dalton Transfer Principle, Ram Dubey
Department of Economics Faculty Scholarship and Creative Works
This paper studies the constructive nature of social welfare orders on infinite utility streams defined on X = Yℕ, satisfying the Pigou-Dalton transfer principle (PD), which are known to be representable (see Alcantud (2010) and Sakamoto (2012)). We describe the restrictions on domain Y for explicit representation or construction of the social welfare orders satisfying (i) PD and monotonicity; or (ii) PD only. We show that the restrictions on Y for either (a) construction; or (b) explicit representation of the social welfare orders are identical in both cases.
Combining Monotonicity And Strong Equity: Construction And Representation Of Orders On Infinite Utility Streams, Ram Dubey, Tapan Mitra
Combining Monotonicity And Strong Equity: Construction And Representation Of Orders On Infinite Utility Streams, Ram Dubey, Tapan Mitra
Department of Economics Faculty Scholarship and Creative Works
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.