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Distributions of the budget sets: an axiomatic analysis

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Listed:
  • Koichi Tadenuma

    (Hitotsubashi University)

  • Yongsheng Xu

    (Georgia State University)

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.

Suggested Citation

  • Koichi Tadenuma & Yongsheng Xu, 2017. "Distributions of the budget sets: an axiomatic analysis," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 48(1), pages 221-237, January.
    • Handle: RePEc:spr:sochwe:v:48:y:2017:i:1:d:10.1007_s00355-016-0961-4
    DOI: 10.1007/s00355-016-0961-4
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    References listed on IDEAS

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