On ranking linear budget sets in terms of freedom of choice
- Cite this article as:
- Xu, Y. Soc Choice Welfare (2004) 22: 281. doi:10.1007/s00355-003-0287-x
This paper examines how freedom of choice as reflected in an agent’s opportunity sets can be measured in economic environments where opportunity sets are linear budget sets in the non-negative orthant of the n-dimensional real space. Three axioms, Symmetry, Monotonicity and Invariance of Scaling Effects, are proposed for this purpose and the measure based on volumes of budget sets is characterized.