On the equity-efficiency trade off in aggregating infinite utility streams

On the equity-efficiency trade off in aggregating infinite utility streams

We compare two different approaches to aggregating infinite utility streams, following some principles of equity and efficiency. We find that the consequentialist equity axiom, Hammond Equity for the Future, is more demanding than its procedural equity counterpart, Anonymity.

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Bibliographische Detailangaben
Veröffentlicht in:Economics letters 2006-10, Vol.93 (1), p.63-67
1. Verfasser: Banerjee, Kuntal
Format: Artikel
Sprache:eng
Schlagworte:
Equity
Hammond Equity for the Future
Social welfare function
Strong Pareto axiom
Trade-off
Weak Dominance axiom
Welfare
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Beschreibung
Zusammenfassung:We compare two different approaches to aggregating infinite utility streams, following some principles of equity and efficiency. We find that the consequentialist equity axiom, Hammond Equity for the Future, is more demanding than its procedural equity counterpart, Anonymity.
ISSN:0165-1765
1873-7374
DOI:10.1016/j.econlet.2006.03.041