Freedom of Choice: The Leximax Criterion in the Infinite Case
Many recent works have investigated the problem of extending a preference over a set of alternatives to its power set, in an attempt to provide a formal representation of the notion of freedom of choice. In general, results are limited to the finite case, which excludes, for instance, 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 described by Bossert, Pattanaik and Xu (1994) to this more general framework.
|Date of creation:||2006|
|Publication status:||Published in|
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- Pattanaik, Prasanta K. & Xu, Yongsheng, 2000. "On Ranking Opportunity Sets in Economic Environments," Journal of Economic Theory, Elsevier, vol. 93(1), pages 48-71, July.
- Ballester, Miguel A. & de Miguel, Juan R. & Nieto, Jorge, 2004. "Set comparisons in a general domain: the Indirect Utility Criterion," Mathematical Social Sciences, Elsevier, vol. 48(2), pages 139-150, September.
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- Ricardo Arlegi & Jorge Nieto, 2001. "Ranking opportunity sets: An approach based on the preference for flexibility," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 18(1), pages 23-36.
- 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.
- Kreps, David M, 1979. "A Representation Theorem for "Preference for Flexibility"," Econometrica, Econometric Society, vol. 47(3), pages 565-577, May.
- 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.
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