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The Freedom Ordering of Budget Sets: Volume or Pointed Distance?

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Abstract

Xu’s theorem comforts ranking the freedom of choice provided by budget sets as their volume in deriving it from three axioms. Yet, one and a half of these axioms can be discussed. In contrast, simple logic – it seems – leads one to order the freedom provided by budgets sets as the distance to the origin of the intersection of the budget hyperplanes with a given ray from the origin. Hence, equal budget freedoms correspond to pencils of budget hyperplanes. Applied to labour and earnings of individuals with different wage rates, this equal freedom yields the distributive principle of equal labour income equalization.

Suggested Citation

  • Serge-Christophe Kolm, 2005. "The Freedom Ordering of Budget Sets: Volume or Pointed Distance?," IDEP Working Papers 0507, Institut d'economie publique (IDEP), Marseille, France, revised Jun 2005.
    • Handle: RePEc:iep:wpidep:0507
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    Keywords

    Freedom of Choice; Budget Ranking; Equality.;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • J33 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Compensation Packages; Payment Methods

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