An Axiomatization of the Leontief Preferences
An axiomatic characterization of the well known Leontief preferences is given. The key axiom is upper consistency, which states that for any two bundles, another bundle is weakly preferred to at least one of them if and only if it is weakly preferred to the bundle that contains the least amount of each commodity in them.
Volume (Year): 25 (2012)
Issue (Month): 1 (Spring)
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- Christopher Chambers, 2009. "Intergenerational equity: sup, inf, lim sup, and lim inf," Social Choice and Welfare, Springer, vol. 32(2), pages 243-252, February.
- Luc Lauwers, 1996. "Rawlsian equity and generalised utilitarianism with an infinite population (*)," Economic Theory, Springer, vol. 9(1), pages 143-150.
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