Ranking opportunity sets in the space of functionings

Francesco Farina, Eugenio Peluso and Ernesto Savaglio

The Journal of Economic Inequality, 2005, vol. 2, issue 2, 105-116

Abstract: We develop a ranking of compact, convex and comprehensive opportunity sets defined in the evaluative space of individual functionings. We suppose the existence of a target, that is a multidimensional bliss point in terms of functionings. This leads us to define concepts such as essentiality and freedom in a novel way. As a main result, we give an axiomatic characterization of the ranking obtained by minimizing the Euclidean distance between each opportunity set and the target. Copyright Kluwer Academic Publishers 2005

Keywords: essentiality; Euclidean distance; freedom; functionings; opportunity sets; set inclusion; target (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (6)

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DOI: 10.1007/s10888-005-4385-0

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