On the Volume-Ranking of Opportunity Sets in Economic Environments
AbstractThe domain of polyconvex sets, i.e. finite unions of convex, compact, Euclidean sets, is large enough to encompass most of the opportunity sets typically encountered in economic environments, including non-linear or even non-convex budget sets, and opportunity sets arising from production sets. We provide a characterization of the volume-ranking as defined on the set of all polyconvex sets, relying on a valuation-based volume-characterization theorem due to Klain and Rota (1997).
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Bibliographic InfoPaper provided by Department of Economics, University of Siena in its series Department of Economics University of Siena with number 479.
Date of creation: Apr 2006
Date of revision:
Opportunity sets; valuation; volume total preordering;
Other versions of this item:
- Ernesto Savaglio & Stefano Vannucci, 2009. "On the volume-ranking of opportunity sets in economic environments," Social Choice and Welfare, Springer, vol. 33(1), pages 1-24, June.
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-05-13 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Barbera, S. & Bossert, W. & Pattanaik, P.K., 2001.
"Ranking Sets of Objects,"
Cahiers de recherche
2001-02, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- Pattanaik, Prasanta K. & Xu, Yongsheng, 2000. "On Ranking Opportunity Sets in Economic Environments," Journal of Economic Theory, Elsevier, vol. 93(1), pages 48-71, July.
- Serge-Christophe Kolm, 2010. "On real economic freedom," Social Choice and Welfare, Springer, vol. 35(3), pages 351-375, September.
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