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In this paper we axiomatically characterize two recursive procedures for defining a social group. The first procedure starts with the set of all individuals who are defined by everyone in the society as group members, while the starting point of the second procedure is the set of all individuals...
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Economic systems generate various distributions of opportunity sets for individuals to choose consumption bundles. This paper presents an axiomatic analysis on distributions of opportunity sets. We introduce several reasonable properties of distributions of opportunity sets, and characterize the...
Persistent link: https://www.econbiz.de/10008808259
Economic systems generate various distributions of opportunity sets for individuals to choose consumption bundles. This paper presents an axiomatic analysis on distributions of opportunity sets. We introduce several reasonable properties of distributions of opportunity sets, and characterize the...
Persistent link: https://www.econbiz.de/10008856582
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