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The Walrasian Distribution of Opportunity Sets: An Axiomatic Characterization

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  • Koichi Tadenuma
  • Yongsheng Xu

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

  • Koichi Tadenuma & Yongsheng Xu, 2010. "The Walrasian Distribution of Opportunity Sets: An Axiomatic Characterization," Global COE Hi-Stat Discussion Paper Series gd10-158, Institute of Economic Research, Hitotsubashi University.
    • Handle: RePEc:hst:ghsdps:gd10-158
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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.

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    JEL classification:

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

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