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And the Winners Are… An Axiomatic Approach to Selection from a Set

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  • Daniele Checchi
  • Gianni De Fraja
  • Stefano Verzillo

Abstract

We study here the problem of evaluating whether the selection from a set is close to the ranking determined by a measurable criterion. We propose a number of natural axioms and show that an index exists that satisfies all these axioms. The paper ends with an application of the index to Italian academia.

Suggested Citation

  • Daniele Checchi & Gianni De Fraja & Stefano Verzillo, 2014. "And the Winners Are… An Axiomatic Approach to Selection from a Set," Discussion Papers 14/05, University of Nottingham, School of Economics.
    • Handle: RePEc:not:notecp:14/05
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    File URL: https://www.nottingham.ac.uk/economics/documents/discussion-papers/14-05.pdf
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    References listed on IDEAS

    as
    1. Cabizza, Mariella M. & De Fraja, Gianni, 1998. "Quality considerations in auctions for television franchises," Information Economics and Policy, Elsevier, vol. 10(1), pages 9-22, March.
    2. Kobus, Martyna & Miloś, Piotr, 2008. "On Meritocratic Inequality Indices," MPRA Paper 10532, University Library of Munich, Germany.
    3. Daniele Checchi & Gianni De Fraja & Stefano Verzillo, 2014. "Publish or Perish: An Analysis of the Academic Job Market in Italy," Discussion Papers 14/04, University of Nottingham, School of Economics.
    4. Jahn K. Hakes & Raymond D. Sauer, 2006. "An Economic Evaluation of the Moneyball Hypothesis," Journal of Economic Perspectives, American Economic Association, vol. 20(3), pages 173-186, Summer.
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    Cited by:

    1. Checchi, Daniele & De Fraja, Gianni & Verzillo, Stefano, 2014. "Publish or Perish? Incentives and Careers in Italian Academia," CEPR Discussion Papers 10084, C.E.P.R. Discussion Papers.

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    More about this item

    Keywords

    Ranking of sets; Axiom of Choice JEL Numbers: D11; C79; L83; I23;
    All these keywords.

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • C79 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Other
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions

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