Reference-dependent rankings of sets in characteristics space


This paper uses Lancaster’s characteristics approach in order to rank sets of alternative combinations of commodity characteristics. It is assumed that there exists a reference point or reference surface from which the individual evaluates set expansions in appropriate directions. We provide an axiomatic characterization for such a case.

DOI: 10.1007/s00355-011-0569-7

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@article{Gaertner2011ReferencedependentRO, title={Reference-dependent rankings of sets in characteristics space}, author={Wulf Gaertner and Yongsheng Xu}, journal={Social Choice and Welfare}, year={2011}, volume={37}, pages={717-728} }