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Opportunity Sets and Individual Well-Being

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  • Bossert, W.

Abstract

An opportunity set ranking rule assigns an ordering of opportunity sets to each individual utility function (defined on the universal set of alternatives) within the domain of this rule. Using an axiomatic approach, this paper characterizes a general class of opportunity set ranking rules which are based on the utilities associated with the elements of an opportunity set. It is argued that the addition of an alternative to a given opportunity set is not necessarily desirable in terms of overall well-being, and this position is reflected in replacing a commonly used monotonicity axiom with an alternative condition.
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Suggested Citation

  • Bossert, W., 1994. "Opportunity Sets and Individual Well-Being," Working Papers 9414, University of Waterloo, Department of Economics.
  • Handle: RePEc:wat:wpaper:9414
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    Cited by:

    1. John E. Roemer & Alain Trannoy, 2016. "Equality of Opportunity: Theory and Measurement," Journal of Economic Literature, American Economic Association, vol. 54(4), pages 1288-1332, December.
    2. Herrero, Carmen, 1997. "Equitable opportunities: an extension," Economics Letters, Elsevier, vol. 55(1), pages 91-95, August.
    3. Antoinette Baujard, 2006. "Conceptions of freedom and ranking opportunity sets. A typology," Economics Working Paper Archive (University of Rennes 1 & University of Caen) 200611, Center for Research in Economics and Management (CREM), University of Rennes 1, University of Caen and CNRS.
    4. Arlegi, Ritxar & Dimitrov, Dinko, 2011. "On freedom, lack of information and the preference for easy choices," Center for Mathematical Economics Working Papers 364, Center for Mathematical Economics, Bielefeld University.
    5. Erwin Ooghe & Erik Schokkaert & Dirk gaer, 2007. "Equality of Opportunity versus Equality of Opportunity Sets," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 28(2), pages 209-230, February.
    6. Bervoets, Sebastian & Gravel, Nicolas, 2007. "Appraising diversity with an ordinal notion of similarity: An axiomatic approach," Mathematical Social Sciences, Elsevier, vol. 53(3), pages 259-273, May.
    7. Ricardo Arlegi, 2005. "Freedom Of Choice And Conflict Resolution," Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra 0502, Departamento de Economía - Universidad Pública de Navarra.
    8. Ricardo Arlegi & Dinko Dimitrov, 2006. "On Freedom of Choice, Ambiguity, and the Preference for Easy Choices," Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra 0607, Departamento de Economía - Universidad Pública de Navarra.
    9. 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.
    10. Walter Bossert, "undated". "Opportunity Sets and the Measurement of Information," Discussion Papers 98/6, University of Nottingham, School of Economics.

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    Keywords

    social justice;

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