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Equitable preference relations on infinite utility streams (2012.06481v2)
Published 12 Nov 2020 in econ.TH and math.LO
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.