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Social Choice and Welfare

, Volume 22, Issue 1, pp 281–289 | Cite as

On ranking linear budget sets in terms of freedom of choice

  • Yongsheng Xu
Article

Abstract.

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.

Keywords

Economic Environment Real Space Scaling Effect Linear Budget 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag 2004

Authors and Affiliations

  1. 1.Department of Economics, Andrew Young School of EconomicsGeorgia State UniversityAtlanta USA

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