Independence of Axioms in Ranking Opportunity Sets Taking into Account Similarity Relations Induced by Money-metric Utility Functions

Carmen Vázquez

Arthaniti: Journal of Economic Theory and Practice, 2025, vol. 24, issue 2, 246-252

Abstract: The objective of this work is to prove the independence of the axioms that characterise rules for ranking opportunity sets: the preference for diversity ordering, the cardinality-first ordering, and the preference-first ordering. The proof of the independence of axioms reinforces the value of the characterisation, since if there were axioms where a consequence of others, they should be eliminated from said characterisation. JEL : D0, D9

Keywords: Similarities between alternatives; diversity of alternatives; cardinal utility; ranking opportunity sets (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:sae:artjou:v:24:y:2025:i:2:p:246-252

DOI: 10.1177/09767479231183461

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