Utilitarianism for infinite utility streams: A new welfare criterion and its axiomatic characterization |
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| Authors: | Kaushik Basu Tapan Mitra |
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| Affiliation: | Department of Economics, Cornell University, Ithaca, NY 14853, USA |
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| Abstract: | A definition of a utilitarian social welfare relation (SWR) for infinite utility streams is proposed. Such a relation is characterized in terms of the Pareto, Anonymity and Partial Unit Comparability Axioms. The merits of the utilitarian SWR, relative to the more restrictive SWR induced by the overtaking criterion, are examined. |
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| Keywords: | D60 D70 D90 |
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