Econometrica: Jan 1965, Volume 33, Issue 1

The Evaluation of Infinite Utility Streams

https://doi.org/0012-9682(196501)33:1<170:TEOIUS>2.0.CO;2-K
p. 170-177

Peter A. Diamond

The impatience implications of several axiom sets assumed for preferences over an infinite future are explored. Sufficient conditions for the existence of a continuous utility function are presented. This analysis is done both for the product topology and the metric function equating the distance between two infinite streams to the maximal one-period difference between them.

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