On the volume-ranking of opportunity sets in economic environments
On the volume-ranking of opportunity sets in economic environments
复制标题
关于经济环境中机会集的数量排名
DOI:
10.1007/s00355-008-0343-7
复制
发表时间:
2009
影响因子:
0.9
通讯作者:
S. Vannucci
中科院分区:
文献类型:
--
作者:
E. Savaglio;S. Vannucci
We provide a characterization of the volume-ranking of opportunity sets as defined on the set of all polyconvex sets, i.e. finite unions of convex, compact, Euclidean sets. In fact, such a domain is large enough to encompass most of the opportunity sets typically encountered in economic environments, including non-linear or even non-convex budget sets, and opportunity sets arising from production sets. Our result relies on a valuation-based volume-characterization theorem due to Klain and Rota (Introduction to Geometric Probability, Cambridge University Press, Cambridge, 1997) and helps to highlight some quite unusual conditions under which the volume-ranking can be justified as a freedom-ranking of opportunity sets. Therefore, it may also help to understand why the latter has been so conspicuously ignored in welfare analysis.