Equitable preference relations on infinite utility streams

TL;DR

This paper introduces generalized equity principles for social welfare relations on infinite utility streams, analyzing their existence and representation under various utility domain restrictions.

Contribution

It proposes new generalized equity principles and characterizes conditions for their existence and real-valued representation in infinite utility streams.

Findings

Existence conditions for equitable social welfare relations.

Characterization of utility domain restrictions for real-valued representations.

Extension of classical equity principles to 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 relation (i) to exist; and (ii) to admit real-valued representations.