Consumer Choice in Characteristics Space

Lancaster's characteristics approach is used 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.

Project Leader: Wulf Gaertner   

Duration of the Project: January 2007 to December 2010

COLLABORATORS

Yongsheng Xu, Georgia State University, Atlanta  USA

PUBLICATIONS 2008-09

Gaertner, Wulf and Yongsheng Xu, (2008), "A New Class of Measures of the Standard of Living Based on Functionings", Economic Theory 35: 201-215

EVENTS AND ACTIVITIES

Presentation at a seminar at York University in May 2008

Presentation at the European Econometric Society Meetings in Milan, Aug. 2008

Presentation at the Choice Group Seminar at LSE on Feb. 4, 2009

Presentation at the Economics Theory Seminar at the University of Galway on March 13, 2009

FURTHER INFORMATION

The project is closely related to earlier work on a new measure of the living standard.

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