New PDF release: Change and Choice - an Overview of Economics

By Jacqueline R. Kasun

ISBN-10: 0846536676

ISBN-13: 9780846536673

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Extra resources for Change and Choice - an Overview of Economics

Example text

Given INS, SM, and IND, the simple cardinality-based ordering ranks the opportunity sets on the basis of the number of elements they contain, as the following theorem states. 1 Consider two opportunity sets, A and B. 9 Pattanaik and Xu’s is an important result. To start with, it provides a neat characterization of a measure of choice that is plausible and intuitive. It is intuitive because counting options is a straightforward method for assessing their quantity; it is plausible because it reflects an immediate interpretation of freedom in terms of availability of choices.

Our interest in FCL is more circumscribed: to compare its main theoretical measures of choice so as to highlight the characteristics of the one we propose, on whose foundations we develop the empirical rod of autonomy freedom (Chapter 4) which is central to this book’s argument. 7 The Freedom of Choice Literature (FCL) originates from the contribution of Suppes (1987), Sen (1988), and Pattanaik and Xu (1990). Since then, FCL has grown in number of pages, content, and technical difficulty. An incomplete list of contributions should include: Alergi and Nieto (2001a, 2001b), Bavetta (2004), Bavetta and Guala (2003), Bavetta and Peragine (2006), Bossert (1997), Bossert, Pattanaik, and Xu (1994, 2003), Carter (1999), Gravel (1998), Jones and Sugden (1982), Klemisch-Alhert (1993), Nehring and Puppe (2002), Oppenheim (2004), Pattanaik and Xu (1998, 2000a, 2000b), Puppe (1995, 1996), Romero Medina (2001), Sen (1991, 1993b), Sugden (1998, 2003, 2010), van Hees (2004).

It is one important mechanism to ensure that citizens can indeed secure good schools and health services in their communities. And choice matters as much within those institutions as between them: better choice of learning options for each pupil within secondary schools; better choice of access routes into the health service. Choice puts the levers in the hands of parents and patients so that they as citizens and consumers can be a driving force for improvement in their public services. Besides its political value, Blair’s speech highlights the importance of choice in the design of public policies.

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Change and Choice - an Overview of Economics by Jacqueline R. Kasun

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