Freedom of choice: the leximax criterion in economic environments
Many recent works have investigated the question of extending a preference over a set of alternatives to its power set, as a way to provide a formal representation of the notion of freedom of choice. In general, the results are limited to the nite case, which excludes the case of economic environments. This paper deals with the possibility of extending those results to the context where the basic set of alternatives is the n-dimensional Euclidean space. We present an extension of the leximax criterion of Bossert, Pattanaik and Xu (1994) on this more general framework. This characterization result opens the possibility of application of the literature on freedom of choice to standard economic environments.
|Date of creation:||2000|
|Date of revision:|
|Publication status:||Published in|
|Contact details of provider:|| Postal: |
Phone: 34 948 169340
Fax: 34 948 169 721
Web page: http://www.econ.unavarra.es
|Order Information:|| Postal: Papers are not sent in a centralized mode. You can download them with ftp, or contact the authors.|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Bossert Walter & Pattanaik Prasanta K. & Xu Yongsheng, 1994. "Ranking Opportunity Sets: An Axiomatic Approach," Journal of Economic Theory, Elsevier, vol. 63(2), pages 326-345, August.
- Sen, Amartya, 1988. "Freedom of choice : Concept and content," European Economic Review, Elsevier, vol. 32(2-3), pages 269-294, March.
- Sen, Amartya, 1991. "Welfare, preference and freedom," Journal of Econometrics, Elsevier, vol. 50(1-2), pages 15-29, October.
- Sen, A., 1991. "Markets And Freedoms," Harvard Institute of Economic Research Working Papers 1559, Harvard - Institute of Economic Research.
- Kreps, David M, 1979. "A Representation Theorem for "Preference for Flexibility"," Econometrica, Econometric Society, vol. 47(3), pages 565-77, May.
When requesting a correction, please mention this item's handle: RePEc:nav:ecupna:0009. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Javier Puértolas)
If references are entirely missing, you can add them using this form.