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.
Institutional Access
Log In To View Full Content

Back