Econometrica: Jan 1967, Volume 35, Issue 1

Preference Functions on Measure Spaces of Economic Agents

https://doi.org/0012-9682(196701)35:1<111:PFOMSO>2.0.CO;2-W
p. 111-122

Gerard Debreu

Given a set of economic agents and a set of coalitions, a non-empty family of subsets of the first set closed under the formation of countable unions and complements, an allocation is a countably additive function from the set of coalitions to the closed positive orthant of the commodity space. To describe preferences in this context, one can either introduce a positive, finite real measure defined on the set of coalitions and specify, for each agent, a relation of preference or difference on the closed positive orthant of the commodity space, or specify, for each coalition, a relation of preference or indifference on the set of allocations. This article studies the extent to which these two approaches are equivalent.

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