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Ranking opportunity sets in the space of functionings

  • Francesco Farina

    ()

  • Eugenio Peluso
  • Ernesto Savaglio

We develop a ranking of compact, convex and comprehensive opportunity sets defined in the evaluative space of individual functionings. We suppose the existence of a target, that is a multidimensional bliss point in terms of functionings. This leads us to define concepts such as essentiality and freedom in a novel way. As a main result, we give an axiomatic characterization of the ranking obtained by minimizing the Euclidean distance between each opportunity set and the target. Copyright Kluwer Academic Publishers 2005

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File URL: http://hdl.handle.net/10.1007/s10888-005-4385-0
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Article provided by Springer in its journal The Journal of Economic Inequality.

Volume (Year): 2 (2005)
Issue (Month): 2 (January)
Pages: 105-116

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Handle: RePEc:kap:jecinq:v:2:y:2005:i:2:p:105-116
Contact details of provider: Web page: http://springerlink.metapress.com/link.asp?id=111137

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  1. Yongsheng Xu, 2004. "On ranking linear budget sets in terms of freedom of choice," Social Choice and Welfare, Springer, vol. 22(1), pages 281-289, 02.
  2. Rubinstein, A. & Zhou, L., 1997. "Choice Problems with a "Reference" Point," Papers 28-97, Tel Aviv.
  3. Sen, Amartya, 1997. "On Economic Inequality," OUP Catalogue, Oxford University Press, number 9780198292975, March.
  4. Puppe, Clemens, 1996. "An Axiomatic Approach to "Preference for Freedom of Choice"," Journal of Economic Theory, Elsevier, vol. 68(1), pages 174-199, January.
  5. Sen, Amartya, 1993. "Markets and Freedoms: Achievements and Limitations of the Market Mechanism in Promoting Individual Freedoms," Oxford Economic Papers, Oxford University Press, vol. 45(4), pages 519-41, October.
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