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What is a commodity? Two axiomatic answers

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  • Yves Sprumont

Abstract

We identify conditions under which preferences over subsets of a consumption world can be reduced to preferences over bundles of "commodities". We distinguish ordinal bundles, whose coordinates are defined up to monotone transformations, from cardinal bundles, whose coordinates are defined up to positive linear transformations. Copyright Springer-Verlag Berlin/Heidelberg 2004

Suggested Citation

  • Yves Sprumont, 2004. "What is a commodity? Two axiomatic answers," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 23(2), pages 429-437, January.
    • Handle: RePEc:spr:joecth:v:23:y:2004:i:2:p:429-437
    DOI: 10.1007/s00199-003-0379-y
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    Cited by:

    1. Marco LiCalzi & Antonio Nicolò, 2009. "Efficient egalitarian equivalent allocations over a single good," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 40(1), pages 27-45, July.
    2. Chambers, Christopher P., 2005. "Allocation rules for land division," Journal of Economic Theory, Elsevier, vol. 121(2), pages 236-258, April.

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