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The Walrasian Distribution of Opportunity Sets : An Axiomatic Characterization

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  • Tadenuma, Koichi
  • Xu, Yongsheng

Abstract

Economic systems generate various distributions of opportunity sets for individuals to choose consumption bundles. This paper presents an axiomatic analysis on distributions of opportunity sets. We introduce several reasonable properties of distributions of opportunity sets, and characterize the distributions of opportunity sets in the market economy by these properties.

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File URL: http://hermes-ir.lib.hit-u.ac.jp/rs/bitstream/10086/18782/1/070ccesDP_39.pdf
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Bibliographic Info

Paper provided by Center for Research on Contemporary Economic Systems, Graduate School of Economics, Hitotsubashi University in its series CCES Discussion Paper Series with number 39.

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Length: 19 p.
Date of creation: Dec 2010
Date of revision:
Handle: RePEc:hit:ccesdp:39

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Keywords: distribution of opportunity sets; market economy; Walrasian distribution; axiomatic characterization;

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  1. BARBERA, Salvador & BOSSERT, Walter & PATTANAIK, Prasanta K., 2001. "Ranking Sets of Objects," Cahiers de recherche 2001-02, Universite de Montreal, Departement de sciences economiques.
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