Impartial utilitarianism on infinite utility streams
When evaluating policies that affect future generations, the most commonly used criterion is the discounted utilitarian rule. However, in terms of intergenerational fairness, it is difficult to justify prioritizing the current generation over future generations. This paper axiomatically examines impartial utilitarian rules over infinite-dimensional utility streams. We provide simple characterizations of the social welfare ordering evaluating utility streams by their long-run average in the domain where the average can be defined. Furthermore, we derive the necessary and sufficient conditions of the same axioms in a more general domain, the set of bounded streams. Some of these results are closely related to the Banach limits, a well-known generalization of the classical limit concept for streams. Thus, this paper can be seen as proposing an appealing subclass of the Banach limits by the axiomatic analysis.
Code (0)
등록된 구현이 없습니다.
Tasks
FairnessMethods 이 논문이 사용한 방법론
Similar Papers 제목 키워드 기반
Proper solutions for Epstein-Zin Stochastic Differential Utility
In this article, we consider the optimal investment-consumption problem for an agent with preferences governed by Epstein--Zin stochastic differential utility (EZ-SDU) who invests in a constant-parameter Black-Scholes-Me…
Learning with Impartiality to Walk on the Pareto Frontier of Fairness, Privacy, and Utility
Deploying machine learning (ML) models often requires both fairness and privacy guarantees. Both of these objectives present unique trade-offs with the utility (e.g., accuracy) of the model. However, the mutual interacti…
FairnessPrivacy PreservingUtilitarian Social Choice and Distributional Welfare Analysis
Harsanyi (1955) showed that the only way to aggregate individual preferences into a social preference which satisfies certain desirable properties is ``utilitarianism'', whereby the social utility function is a weighted …
Optimal longevity of a dynasty
A standard roundabout production framework is considered in a dynastic social welfare maximization problem, incorporating critical-level utilitarianism as the guiding principle for social welfare. While critical-level ut…
Extended Gini Index
We propose an extended version of Gini index defined on the set of infinite utility streams, $X=Y^\mathbb{N}$ where $Y\subset \mathbb{R}$. For $Y$ containing at most finitely many elements, the index satisfies the genera…