The Freedom Ordering of Budget Sets: Volume or Pointed Distance?

Serge-Christophe Kolm
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Serge-Christophe Kolm: CREM, IDEP, EHESS

No 507, IDEP Working Papers from Institut d'economie publique (IDEP), Marseille, France

Abstract: Xu’s theorem comforts ranking the freedom of choice provided by budget sets as their volume in deriving it from three axioms. Yet, one and a half of these axioms can be discussed. In contrast, simple logic – it seems – leads one to order the freedom provided by budgets sets as the distance to the origin of the intersection of the budget hyperplanes with a given ray from the origin. Hence, equal budget freedoms correspond to pencils of budget hyperplanes. Applied to labour and earnings of individuals with different wage rates, this equal freedom yields the distributive principle of equal labour income equalization.

Keywords: Freedom of Choice; Budget Ranking; Equality. (search for similar items in EconPapers)
JEL-codes: D31 D46 D63 H21 J33 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2005-06, Revised 2005-06
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