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.Log In To View Full Content