Reference-dependent rankings of sets in characteristics space

Abstract

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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Cite this paper

@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} }