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Reference-dependent rankings of sets in characteristics space

By Wulf Gaertner and Yongsheng Xu


This article uses Lancaster's characteristics approach to rank sets of alternative combinations of commodity characteristics. It is assumed that there exists a reference point or reference level from which the individual evaluates set expansions in appropriate directions. We provide an axiomatic characterization for such a case

Topics: B Philosophy (General)
Publisher: Springer
Year: 2011
DOI identifier: 10.1007/s00355-011-0569-7
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Provided by: LSE Research Online
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