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The Walrasian Distribution of Opportunity Sets : An Axiomatic Characterization

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  • Tadenuma, Koichi
  • Xu, Yongsheng

Abstract

Economic systems generate various distributions of opportunity sets for individuals to choose consumption bundles. This paper presents an axiomatic analysis on distributions of opportunity sets. We introduce several reasonable properties of distributions of opportunity sets, and characterize the distributions of opportunity sets in the market economy by these properties.

Suggested Citation

  • Tadenuma, Koichi & Xu, Yongsheng, 2010. "The Walrasian Distribution of Opportunity Sets : An Axiomatic Characterization," Discussion Papers 2010-16, Graduate School of Economics, Hitotsubashi University.
    • Handle: RePEc:hit:econdp:2010-16
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    File URL: http://hermes-ir.lib.hit-u.ac.jp/rs/bitstream/10086/18783/1/070econDP10-16.pdf
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    References listed on IDEAS

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    1. 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.
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    Cited by:

    1. Tadenuma, Koichi & Xu, Yongsheng, 2012. "Extensions of the Fundamental Welfare Theorems in a Non-welfaristic Framework," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 53(1), pages 107-120, June.

    More about this item

    Keywords

    distribution of opportunity sets; market economy; Walrasian distribution; axiomatic characterization;

    JEL classification:

    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • D60 - Microeconomics - - Welfare Economics - - - General
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • P00 - Economic Systems - - General - - - General

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