On the Impossibility of Representing Infinite Utility Streams
- Crespo Fernández, Juan A.
- Núñez Sanz, Carmelo
- Rincón Zapatero, Juan Pablo
Revue:
Documentos de trabajo. Economic series ( Universidad Carlos III. Departamento de Economía )
Année de publication: 2007
Número: 55
Type: Working Paper
Résumé
We show that, independently of the topology chosen on the set of all infinity utility streams, there is no Social Welfare Function preserving the von Weizsäcker¿s overtaking criterion. With our proof we extend the impossibility result of Basu and Mitra.