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.
Farina, F., Savaglio, E., Peluso, E. (2005). Ranking opportunity sets in the space of functionings. THE JOURNAL OF ECONOMIC INEQUALITY, 2(2), 105-116.
Ranking opportunity sets in the space of functionings
Farina, Francesco
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2005-01-01
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.
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https://hdl.handle.net/11365/6879
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