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Ranking opportunity sets in the space of functionings

Abstract

We develop a ranking of compact, convex and comprehensive opportunity sets defined in the evaluative space of individual functionings. We suppose the existence of a target, that is a multidimensional bliss point in terms of functionings. This leads us to define concepts such as essentiality and freedom in a novel way. As a main result, we give an axiomatic characterization of the ranking obtained by minimizing the Euclidean distance between each opportunity set and the target.

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Correspondence to Francesco Farina.

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Farina, F., Peluso, E. & Savaglio, E. Ranking opportunity sets in the space of functionings. J Econ Inequal 2, 105–116 (2005). https://doi.org/10.1007/s10888-005-4385-0

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Key words

  • essentiality
  • Euclidean distance
  • freedom
  • functionings
  • opportunity sets
  • set inclusion
  • target