RANKING OPPORTUNITY SETS - AN AXIOMATIC APPROACH

Authors
BOSSERT W PATTANAIK PK XU YS
Citation
W. Bossert et al., RANKING OPPORTUNITY SETS - AN AXIOMATIC APPROACH, Journal of economic theory, 63(2), 1994, pp. 326-345
Citations number
32
Categorie Soggetti
Economics
Journal title
Journal of economic theory → ACNP
ISSN journal
00220531
Volume
63
Issue
2
Year of publication
1994
Pages
326 - 345
Database
ISI
SICI code
0022-0531(1994)63:2<326:ROS-AA>2.0.ZU;2-D
Abstract
We characterize quasi-orderings on the power set of a set of alterativ es. The subsets to be ranked are interpreted as opportunity sets avail able to an individual. The main criteria for ranking these opportunity sets are the individual preferences on the universal set of alterativ es itself, and the freedom of choice associated with each subset of th e universal set. This is reflected in the axioms used in the character izations. (C) 1994 Academic Press, Inc.