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Equitable preference relations on infinite utility streams
Abstract:We propose generalized versions of strong equity and Pigou–Dalton transfer principle. We study the existence and the real-valued representation of social welfare relations satisfying these two generalized equity principles. Our results characterize the restrictions on one period utility domains for the equitable social welfare relations (i) to exist; and (ii) to admit real-valued representations.
Keywords:Anonymity  Generalized equity  Generalized Pigou–Dalton transfer principle  Social welfare function  Social welfare relation
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