Distributions of the budget sets: an axiomatic analysis

Koichi Tadenuma () and Yongsheng Xu
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Koichi Tadenuma: Hitotsubashi University

Social Choice and Welfare, 2017, vol. 48, issue 1, No 11, 237 pages

Abstract: Abstract Economic systems generate various distributions of opportunity sets for individuals to choose consumption bundles. This paper presents an axiomatic analysis of distributions of opportunity sets. We introduce three properties for distributions of opportunity sets, and show that they axiomatically characterize the distributions of the budget sets in the market economy. We also axiomatically characterize the distribution of equal-income budget sets by considering two equity properties.

Date: 2017
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DOI: 10.1007/s00355-016-0961-4

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