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
Yongsheng Xu, Georgia State University, Atlanta USA
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
The project is closely related to earlier work on a new measure of the living standard.