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Reference-dependent rankings of sets in characteristics space

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Abstract

This article uses Lancaster’s characteristics approach to rank sets of alternative combinations of commodity characteristics. It is assumed that there exists a reference point or reference level from which the individual evaluates set expansions in appropriate directions. We provide an axiomatic characterization for such a case.

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Authors and Affiliations

  1. Department of Economics and Institute of Cognitive Science, University of Osnabrück, 49069, Osnabrück, Germany

    Wulf Gaertner

  2. Department of Philosophy, Logic and Scientific Method, London School of Economics, London, WC2A 2AE, UK

    Wulf Gaertner

  3. Department of Economics, Andrew Young School of Policy Studies, Georgia State University, P.O. Box 3992, Atlanta, GA, 30302-3992, USA

    Yongsheng Xu

Authors
  1. Wulf Gaertner
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  2. Yongsheng Xu
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Correspondence to Wulf Gaertner.

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Gaertner, W., Xu, Y. Reference-dependent rankings of sets in characteristics space. Soc Choice Welf 37, 717–728 (2011). https://doi.org/10.1007/s00355-011-0569-7

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  • DOI: https://doi.org/10.1007/s00355-011-0569-7

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