Opportunity sets and individual well-being |
| |
Authors: | Walter Bossert |
| |
Institution: | (1) Department of Economics, University of Waterloo, Waterloo, Ontario N2L 3G1, Canada, CA |
| |
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.
Received: 15 May 1995/Accepted: 14 December 1995 |
| |
Keywords: | |
本文献已被 SpringerLink 等数据库收录! |
|