### Abstract

Original language | English |
---|---|

Pages (from-to) | 1-22 |

Number of pages | 22 |

Journal | Economic Theory |

Early online date | 22 Jan 2018 |

DOIs | |

Publication status | E-pub ahead of print - 22 Jan 2018 |

### Cite this

**Asymptotic properties of welfare relations.** / Petri, Henrik.

Research output: Contribution to journal › Article

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TY - JOUR

T1 - Asymptotic properties of welfare relations

AU - Petri, Henrik

PY - 2018/1/22

Y1 - 2018/1/22

N2 - We introduce and discuss notions of efficiency in the aggregation of infinite utility streams. For any utility streams x and y, our efficiency criteria roughly require this: If a utility stream x dominates another utility stream y and if the asymptotic density of the set of coordinates in favor of x is strictly positive, then x is socially preferred to y. As a robustness check of the proposed efficiency axioms we explore the consistency of the axioms with notions of equity. Our main results characterize one period utility domains, i.e., the set of utilities Y attainable by each generation, admitting a social welfare aggregator with the desired properties.

AB - We introduce and discuss notions of efficiency in the aggregation of infinite utility streams. For any utility streams x and y, our efficiency criteria roughly require this: If a utility stream x dominates another utility stream y and if the asymptotic density of the set of coordinates in favor of x is strictly positive, then x is socially preferred to y. As a robustness check of the proposed efficiency axioms we explore the consistency of the axioms with notions of equity. Our main results characterize one period utility domains, i.e., the set of utilities Y attainable by each generation, admitting a social welfare aggregator with the desired properties.

U2 - 10.1007/s00199-018-1100-5

DO - 10.1007/s00199-018-1100-5

M3 - Article

SP - 1

EP - 22

JO - Economic Theory

JF - Economic Theory

SN - 0938-2259

ER -