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Lexicographic measurement of the information contained in opportunity sets

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Abstract.

An individual who has to choose one item from an opportunity set or menu may lack complete information about the final consequences attached to her choice. This problem has been modeled by Bossert (2000) who introduces an axiomatic approach to the ranking of menus according to their informational content. We propose a different ranking based on the lexicographic ordering on the vectors of numbers of consequences for each item and characterize it axiomatically.

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Authors and Affiliations

  1. Universität Hohenheim, Institut für Volkswirtschaftslehre (520c), D-70593 Stuttgart (Hohenheim), Germany (e-mail: jnaeve@uni-hohenheim.de), , , , , , DE

    Jörg Naeve

  2. Universität Bielefeld, Institut für Mathematische Wirtschaftsforschung, Postfach 100131, 66501 Bielefeld, Germany, , , , , , DE

    Elisabeth Naeve-Steinweg

Authors
  1. Jörg Naeve
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  2. Elisabeth Naeve-Steinweg
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Received: 12 June 1998/Accepted: 5 September 2000

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Naeve, J., Naeve-Steinweg, E. Lexicographic measurement of the information contained in opportunity sets. Soc Choice Welfare 19, 155–173 (2002). https://doi.org/10.1007/s355-002-8330-4

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  • DOI: https://doi.org/10.1007/s355-002-8330-4

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