On the Volume-Ranking of Opportunity Sets in Economic Environments

Ernesto Savaglio () and Stefano Vannucci ()

Department of Economics University of Siena from Department of Economics, University of Siena

Abstract: The domain of polyconvex sets, i.e. finite unions of convex, compact, Euclidean sets, 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. We provide a characterization of the volume-ranking as defined on the set of all polyconvex sets, relying on a valuation-based volume-characterization theorem due to Klain and Rota (1997).

Keywords: Opportunity sets; valuation; volume total preordering (search for similar items in EconPapers)
JEL-codes: D31 D63 I31 (search for similar items in EconPapers)
Date: 2006-04
References: View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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