Infinite-Horizon Choice Functions
| dc.contributor.author | Bossert, Walter | |
| dc.contributor.author | Asheim, Geir B. | |
| dc.contributor.author | Sprumont, Yves | |
| dc.contributor.author | Suzumura, Kotaro | |
| dc.date.accessioned | 2008-02-04T15:42:27Z | |
| dc.date.available | 2008-02-04T15:42:27Z | |
| dc.date.issued | 2006 | |
| dc.identifier.uri | http://hdl.handle.net/1866/2145 | |
| dc.format.extent | 226224 bytes | |
| dc.format.mimetype | application/pdf | |
| dc.publisher | Université de Montréal. Département de sciences économiques. | fr |
| dc.subject | Intergenerational resource allocation | en |
| dc.subject | infinite-horizon choice | en |
| dc.subject | D63 | en |
| dc.subject | D71 | en |
| dc.title | Infinite-Horizon Choice Functions | en |
| dc.type | Article | |
| dc.contributor.affiliation | Université de Montréal. Faculté des arts et des sciences. Département de sciences économiques | |
| dcterms.abstract | We analyze infinite-horizon choice functions within the setting of a simple linear technology. Time consistency and efficiency are characterized by stationary consumption and inheritance functions, as well as a transversality condition. In addition, we consider the equity axioms Suppes-Sen, Pigou-Dalton, and resource monotonicity. We show that Suppes-Sen and Pigou-Dalton imply that the consumption and inheritance functions are monotone with respect to time—thus justifying sustainability—while resource monotonicity implies that the consumption and inheritance functions are monotone with respect to the resource. Examples illustrate the characterization results. | en |
| dcterms.isPartOf | urn:ISSN:0709-9231 | |
| dcterms.language | eng | en |
| UdeM.VersionRioxx | Version publiée / Version of Record | |
| oaire.citationTitle | Cahier de recherche | |
| oaire.citationIssue | 2006-08 |
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