Functioning, capability and the standard of living - an axiomatic approach
AbstractThe standard of living of an agent is viewed as her capability of achieving various functionings (Sen, 1985, 1987). The agent is thus characterized by her capability set that consists of different functioning vectors. The task of measuring the standard of living of the agent formally is therefore to rank different capability sets. This paper explores the problem of ranking capability sets in terms of the standard of living offered to the agent. For this purpose, we consider capability sets that are non-degenerate, compact, comprehensive and convex subsets of the $n$-dimensional real space, propose several intuitively plausible properties for the ranking and give characterizations of some ranking rules.
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Bibliographic InfoArticle provided by Springer in its journal Economic Theory.
Volume (Year): 20 (2002)
Issue (Month): 2 ()
Note: Received: April 10, 2000; revised version: June 18, 2001
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Web page: http://link.springer.de/link/service/journals/00199/index.htm
Find related papers by JEL classification:
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
- D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances
- O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General
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- Xu, Yongsheng & Yoshihara, Naoki, 2012. "Rationality and Solutions to Nonconvex Bargaining Problems: Rationalizability and Nash Solutions," Discussion Paper Series 580, Institute of Economic Research, Hitotsubashi University.
- Krishnakumar, Jaya & Ballon, Paola, 2008. "Estimating Basic Capabilities: A Structural Equation Model Applied to Bolivia," World Development, Elsevier, vol. 36(6), pages 992-1010, June.
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