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
;
2005
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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http://hdl.handle.net/11365/6879
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